$BTC This move is pretty interesting: 1-hour aggressive selling is at 0.69, while the big players' long/short ratio is still 1.73.
There's no shortage of selling pressure, but the big players haven't bailed.
Open interest is still falling over the past 24 hours, and the price is hovering around 81554. Four-hour volume is only 0.3x the average—selling pressure isn't heavy, but buyers are timid too.
Two possibilities: either spot buyers are absorbing the sell-off below, or short covering is providing a temporary lift, with no fresh money coming in at all.
I lean toward a shakeout, not a reversal. 79800 is the line in the sand; if it breaks, look straight to 76296.
Do you think this is accumulation or a slow bleed? Don't just talk—bring the volume to back it up.
#BTC #Bitcoin
There's no shortage of selling pressure, but the big players haven't bailed.
Open interest is still falling over the past 24 hours, and the price is hovering around 81554. Four-hour volume is only 0.3x the average—selling pressure isn't heavy, but buyers are timid too.
Two possibilities: either spot buyers are absorbing the sell-off below, or short covering is providing a temporary lift, with no fresh money coming in at all.
I lean toward a shakeout, not a reversal. 79800 is the line in the sand; if it breaks, look straight to 76296.
Do you think this is accumulation or a slow bleed? Don't just talk—bring the volume to back it up.
#BTC #Bitcoin