In the 1-hour chart of the big pie, it rose to 1168 slightly breaking the upper Bollinger band but closed back down to 1164, forming a long upper shadow 'false breakout'. The suppressive effect of the upper Bollinger band is still in place, and the probability of a retracement after the failed breakout has increased sharply.
Capital Situation: Bybit USDT perpetual main contract has placed a sell order of 83.2695 million USD, with a massive selling pressure directly 'laying it all out', indicating a clear intention to cash out at high levels, making it easy for following funds to panic and withdraw.
Logical Analysis
False breakout of the upper Bollinger band = exhaustion of bullish momentum, technical pressure;
Massive sell order = main force is bearish, capital situation resonates negatively;
Short-term +1.11% increase = inducement to go long and a strong expectation of decline.
Recommendation: Short at 1165-1170, targeting 1155-1150
