The latest 4-hour cycle shows that BTC prices are hovering around 112700, currently below the EMA24 and EMA52 moving averages, and short-term trading volume has decreased by 25%, indicating insufficient bullish momentum. The exclusive chip distribution indicator for members shows that there are triple strong resistance in the 115765-115887 area, with a significant peak in transaction density, and the current price is difficult to directly break through. At the same time, RSI has just broken through the oversold zone, and combined with the KDJ dead cross signal, there is still downside risk in the short term.
It is worth noting that the bottom chips are well locked in. If the price retraces to the support band of 111800-112000 and stabilizes, or forms a local bottom pattern, it may brew a rebound market.
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The data is sourced from the PRO member's [BTC/USDT Binance 4-hour] candlestick chart, for reference only, and does not constitute any investment advice.