$BTC In-depth market analysis
📈Positions that require special observation in the short term【29372｜28852】
Let me share this a little earlier today. The recent rise may be the beginning of a fall. Let everyone prepare in advance.
BTC fell below the range and is still consolidating. There is a possibility of a failed breakthrough. However, more reasons will be needed before considering going long. The reason is that the bulls are obviously weak, so a direct rise is unlikely.
📍There have been four pushes up (there has just been a rise), and the subsequent decline is more likely. The decline target is the extreme value of the channel. If a reversal signal appears, you can consider going long, but if it falls directly below, it will be very dangerous for the bulls. Unfortunately, the possibility of returning to the upper range is smaller. It is recommended to trade on the right side. If it falls directly below, there will be no entry opportunity and the loss will not be stopped.
Figure 1: Net Position of the stablecoin of the exchange. The red negative number represents the outflow. The recent trend shows that the outflow is more than the inflow, reflecting the gradual reduction of the purchasing power on the exchange.
Figure 2: Net Position of the exchange's BTC net position. The green positive number represents the inflow. The recent trend shows that the inflow is more than the outflow. There are more BTC that can be sold on the exchange, which reflects the potential selling pressure⚠️
Summary🚪Basically combining the two data, coupled with the above chart analysis, there is a greater chance of a decline in the short term, so you can pay attention to the short direction!
