#数字资产市场动态 【Trader's Notes】BTC 1-Hour Chart Sell Pressure Signal

This wave of market movement is clear from three perspectives — the bears are still holding the knife, and any rebound has become an opportunity to offload.

**Technical Overview**

The candlesticks are trending downward along the lower Bollinger Band (96752.5), with rebounds only reaching the middle band (96948.8), indicating a typical weak pattern. Short-term moving averages are all in a bearish alignment, with MA30 firmly stuck at 96971.7, acting as resistance, and EMA7 (96850.8) becoming an immediate obstacle. What about MACD? DIF and DEA are diverging further below the zero line, with the green bars shrinking but still deep in the negative territory (-46.6), indicating that the downward momentum has not weakened.

**On-Chain Details Are Noteworthy**

Continuous net inflows on exchanges conceal selling pressure, as large holders are reducing their positions — smart money is exiting. On-chain transfers are mainly small panic sell-offs, with no signs of major players defending the price.

**Market Sentiment Is Turning**

With macro liquidity tightening and regulatory shadows still looming, investors' mindset has shifted from "picking up bargains" to "finding an exit." Retail investor sentiment can easily spiral out of control at this stage.

**My Trading Logic**

The current price of 96824 acts as resistance. Any rebound within the 96900 to 97000 range can be used to continue shorting, with a stop-loss set near the daily MA7 (around 97300). The first target is to see if the price can break below 96500 after the lower Bollinger Band is breached. If the 1-hour candlestick closes with a solid bearish candle and breaks below 96750, the downside space will be fully open.

The key is not to be fooled by rebounds — the trend is the only thing you can trust. This liquidation wave is not over yet; let the bullets fly a bit longer. $BTC