Midday Update: This time, $BTC is not a low-volume rebound. The resistance at 83,700—83,800 has been broken on increased volume. By before 14:00, the latest is around 86,029, with an intraday high of 86,888. The breakout hour saw trading volume of about $2.57 billion, and over the past 24 hours open interest increased by 3.78%—price and positions rose in sync.
But the chase-up conditions are not great: after the spike, the next hour fell back from around 86,641, closing at 85,965. The 1-hour RSI is about 72.9, and the 4-hour RSI about 74.6—short-term momentum has entered an overheated zone. During the same period, $ETH and $BNB only rose about 0.30% and 0.78% respectively; major coins did not accelerate across the board.
For now, watch whether 85,500—85,000 can hold and provide support. If it holds, then there is a base for another test of 86,900; if the 1-hour candle closes back below 84,400, the validity of this breakout will clearly weaken. A breakout being valid doesn’t automatically mean it’s suitable to chase higher.#BTC #午间跟踪 #Risk Warning
But the chase-up conditions are not great: after the spike, the next hour fell back from around 86,641, closing at 85,965. The 1-hour RSI is about 72.9, and the 4-hour RSI about 74.6—short-term momentum has entered an overheated zone. During the same period, $ETH and $BNB only rose about 0.30% and 0.78% respectively; major coins did not accelerate across the board.
For now, watch whether 85,500—85,000 can hold and provide support. If it holds, then there is a base for another test of 86,900; if the 1-hour candle closes back below 84,400, the validity of this breakout will clearly weaken. A breakout being valid doesn’t automatically mean it’s suitable to chase higher.#BTC #午间跟踪 #Risk Warning