The current 90 minute cycle K-line shows that BTC prices are below the EMA24/52 moving average, showing an overall downward trend. At the same time, the latest flat top shape and shrinking cross star indicate that the market is hesitating near the resistance zone of 108760-108909, and selling pressure is gradually emerging. The distribution of chips in the membership indicator further reveals the existence of a strong resistance zone above, where the main funds continue to exit, making it difficult to break through.
In addition, although RSI has a double bottom rebound signal, the divergence of KDJ is insufficient, which limits its short-term action. If the price cannot maintain the support of 106000, it may further drop to 104500.
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The data is sourced from the PRO member's [BTC/USDT Binance USDT perpetual 90 minute] candlestick, for reference only, and does not constitute any investment advice.
