#BTC Observations before the US stock market opens..

Overall, the rebound sentiment yesterday was quite strong, although it did not create a rapid V-shaped recovery..

However, yesterday, the total long delta reached 1.5b in just a few hours, which is the highest value of total long delta for the entire network's spot and contract aggregation in the last 5 hours since October 11. (Previously, the highest rebound was only around 1~1.2b, with an occasional 1.4b.)

What is different this time is that after this wave of rebound to 1.5b, the price did not fall back, but instead went sideways. In the middle of the night, after hitting the short liquidity zone at 87300 and the long trapped zone, it still did not look back, but continued to rise steadily in a sideways manner..

Overall driven by both spot and contracts...

However, there is passive selling pressure around 87000~87500.. On a micro level, there is a CVD bearish divergence..

Currently, there has been a trading gap between 9W and 8W8.. When it surged up, there wasn't enough turnover, and when it fell down, there also wasn't enough turnover.. We still need to wait for the US stock market to open for direction..

From the market perspective, the bulls' defense level should be around the low point of 86000 in the Asian session. The bears need to observe if there is an opportunity near 90K, within the gap between 88K and 90K, and can only see if there is a volume explosion spike entry model.

Continue to observe the order zone + demand zone of 8w~8w3 to see if there is an opportunity to insert a high-volume entry model.