The breakout is real, but the conditions for chasing the price are not good right now. $BTC held above 85,000 overnight and pushed to 86,770; before 9:00 it was around 86,482. The price is already above the 1-hour EMA20/50 at about 85,662/85,278, and the 24-hour open interest increased by 1.07%, indicating that the breakout has attracted fresh positioning.
The issue is that the short-term temperature is too hot: the 1-hour RSI for BTC is around 80 and the 4-hour RSI around 88; the funding rate is about 0.0084%. $BNB also broke above yesterday’s 794 confirmation level and closed near 797, but its 24-hour open interest is basically unchanged, so the price continuation has not received confirmation from new positions.
Today, first watch whether BTC can hold 85,800—86,000. If it holds, then observe whether 86,770 can break out with volume. If it fails, then look back to 85,300. BNB holding 794 is still relatively strong, but if it falls back below 791, be wary of a false breakout. At the moment, it’s more suitable to wait for a pullback confirmation—don’t chase higher prices.#BTC #BNB #Market watch
The issue is that the short-term temperature is too hot: the 1-hour RSI for BTC is around 80 and the 4-hour RSI around 88; the funding rate is about 0.0084%. $BNB also broke above yesterday’s 794 confirmation level and closed near 797, but its 24-hour open interest is basically unchanged, so the price continuation has not received confirmation from new positions.
Today, first watch whether BTC can hold 85,800—86,000. If it holds, then observe whether 86,770 can break out with volume. If it fails, then look back to 85,300. BNB holding 794 is still relatively strong, but if it falls back below 791, be wary of a false breakout. At the moment, it’s more suitable to wait for a pullback confirmation—don’t chase higher prices.#BTC #BNB #Market watch