Member indicators show that the current price is testing the strong support level of 108886, with a chip concentration of 4.3% in the region, and fierce competition between long and short positions. Combined with the K-line pattern, the latest 1-hour cycle has seen a bullish engulfment, coupled with KDJ entering the oversold zone, indicating a high probability of short-term rebound.
However, the EMA24/52 moving average is still in a bearish position, and trading volume has shrunk by 37% in the past 10 cycles, indicating limited upward mobility. If the price falls below 108886, it may further explore the support of 108287.
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The data is sourced from the PRO member's [BTC/USDT Binance 1-hour] candlestick, for reference only, and does not constitute any investment advice.
