Todays market pullback looks more like a deleveraging cycle rather than a frenzy of short positions stacking up. As of 08:42, $BTC is around $84,304, down 2.51% over the past 24 hours, while open interest has decreased by 7.70%. The funding rate is only 0.0008%. This indicates that the price drop is accompanied by a large number of positions exiting.
The structure has already weakened: BTC has fallen below the 4-hour EMA20 around $84,413, and RSI14 has dropped to 33.5. ETH is around $2,684, down 2.85%. BNB is around $768.3, down 3.03%, with the 4-hour RSI even lower at 28.1, nearing oversold.
For today, first watch BTCs intraday low at 83,450. If it holds and then regains 84,400, the market has a chance to stop falling and repair. If it breaks below 83,450 effectively, the next level to watch is around 82,250 near the 4-hour EMA50. At the end of deleveraging, a rebound may occur, but before it reclaims the moving averages, dont equate oversold directly with a bottom. #BTC #大盘分析 #加密市场
The structure has already weakened: BTC has fallen below the 4-hour EMA20 around $84,413, and RSI14 has dropped to 33.5. ETH is around $2,684, down 2.85%. BNB is around $768.3, down 3.03%, with the 4-hour RSI even lower at 28.1, nearing oversold.
For today, first watch BTCs intraday low at 83,450. If it holds and then regains 84,400, the market has a chance to stop falling and repair. If it breaks below 83,450 effectively, the next level to watch is around 82,250 near the 4-hour EMA50. At the end of deleveraging, a rebound may occur, but before it reclaims the moving averages, dont equate oversold directly with a bottom. #BTC #大盘分析 #加密市场