$BTC The main force is frantically offloading, how deep will this dip go?
Recently, the market for Bitcoin has shown some dangerous signals, as the main players seem to collectively be ‘smashing the market’.
Within 12 hours, institutions and large holders have frantically sold off 68.04 million in chips, while retail investors only bought 23.65 million, resulting in a net outflow of nearly 44 million. The buying-selling ratio dropped to 1:2.88—this means that for every 3 sell orders, only 1 person dares to bottom fish, and market sentiment has clearly weakened.
Especially in the last 2 hours, several million-level market sell orders have directly smashed the price down from $107,000, clearly indicating that large holders are ‘collectively fleeing’.
The technical indicators further confirm this panic. The current candlestick chart has formed a ‘double top’ pattern at a critical resistance level (simply put, the price was pushed higher and then smashed down twice at the same position), along with KDJ indicators showing a death cross and overbought signals, indicating that there is no momentum for a short-term rally.
Moreover, the price has struggled to maintain the $108,000 level over the past two days, and even the original support level of $106,300 is on shaky ground. If this level breaks, it could likely trigger a chain of stop losses, directly plunging the price close to $100,000.
My personal view is very clear: do not be stubborn now. The main force's retreat is too severe, coupled with external negative factors like the Middle East situation and the U.S. stock market correction, it is very difficult for Bitcoin to reverse in the short term.
If you must act, either wait for the price to stabilize at $108,000 before testing the waters, or simply lay back and watch the show.
Remember, surviving in a bear market is more important than making money; do not hesitate when it’s time to retreat.
As for the upcoming layout direction, expecting a space of over 10 times is not a problem, pay attention + leave a message, and I will guide you through the entire bull market!
