The 2-hour cycle K-line shows that BTC has formed a black three soldier pattern, with three consecutive bearish candlesticks gradually lowering the closing price, and member indicators clearly indicating a downward trend. At the same time, the price fell below the support of the EMA24 and EMA52 moving averages, with a downward slope of the double moving averages, further confirming downward pressure. The distribution of chips shows that there are multiple obstacles in the area of 101660-103012 above, and the current price is far away from the high volume node, lacking effective support.
The trading volume has shrunk to recent lows, and market activity has significantly decreased, suggesting that selling pressure may continue. Although RSI has entered the oversold zone, the rebound needs to wait for the trading volume to recover. Pay attention to the key support of 93955, if it falls below, it will accelerate the downward trend.
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The data is sourced from the PRO member's [BTC/USDT Binance USDT perpetual 2-hour] candlestick, for reference only, and does not constitute any investment advice.