【BTC】


The bears are starting to panic again, repeatedly liquidated by the main force, which is very similar to the trend in mid-April, gradually rising to attract short sellers, then increasing volume to liquidate their pain points.
The previous wedge pattern was broken by the midline resistance and then returned to the lower boundary, transforming from an upward trend line into a supply zone. Although there are no clear signs of a top divergence yet, whether it's a false breakout or not, it's a selling point; chasing longs is not advisable.
As for how the subsequent trend will develop, I won't speculate now; subjective opinions are too influential and can affect judgment. I'll only focus on what I can see now.
Note that there are no significant structural references above, and indicators are not very meaningful. Shorting is more inclined to the left side, with the maximum short-term retracement depth targeting the 78k level from the starting point, which was also the resistance point during last week's short-term distribution. After support and resistance switch, it becomes a strong support at a smaller level.
Currently, aside from a small amount of liquidation demand around 81k, the rest is almost exhausted, waiting for consolidation after oscillation.
Batch purchases around 80.4k/81k.
TP: below 78.5k.
This is only my personal opinion and does not constitute any investment advice.
BTC1.41%
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