The main large orders in the past 12 hours show that the buying and selling forces are basically balanced, but the frequent occurrence of large orders with a single transaction volume exceeding 10 million indicates that the main force is fiercely competing for key positions. Especially last night, the $30.17 million main selling order of Binance contract directly suppressed the price rebound, showing a clear intention of the main force to control the market.
The current price is below the EMA24/52 moving average, coupled with the increased downward momentum of MACD, which verifies the downward pressure brought by the main selling orders. Combined with the resistance signal of the K-line shape, it may continue to be under pressure in the short term.
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The data is sourced from the PRO member's [BTC/USDT Binance USDT perpetual 1-hour] candlestick, for reference only, and does not constitute any investment advice.