In the live broadcast of the language community: Long and short have ceased, BTC is about to choose its direction?

Click on the link to enter Tencent Meeting: https://meeting.tencent.com/p/9850662513 The cryptocurrency market is silent, but beneath this silence, there are hidden currents surging. The price of Bitcoin is trapped in a gradually narrowing range, with both long and short sides waiting for a clear signal. This week, the cumulative decline is 5.35%, marking the largest weekly decline since March, and market price activity has significantly slowed down. This low volatility consolidation phase usually indicates that the market is about to choose its direction. 01 Key Price Battle The current Bitcoin price is hovering around $109000 and is at a critical technological juncture. The support line of $108500 below becomes an important defense for bulls, while the psychological barrier of $110000 above is a solid fortress for bears. Market analysts pointed out that "on the short-term hourly chart, the wedge-shaped range is constantly shrinking, and the high level is slowly moving downwards". This convergence pattern indicates that market volatility is decreasing, with volatility dropping to recent lows, indicating an impending directional breakthrough. 02 Market sentiment and capital flow This week, the total market value of the cryptocurrency market evaporated by about $300 billion, and market sentiment fell to its lowest point since early summer of this year. Data on fund flow shows that the US spot Bitcoin ETF had a net outflow of $897.6 million this week, with only one trading day recording a net inflow. This phenomenon of capital outflow reflects the current cautious attitude of the market. According to Chaintext data, the number of Bitcoin purchases by listed companies has decreased by 76% compared to the frenzy period in early summer, plummeting from 64000 in July to 15500 in September. 03 Interweaving of long and short factors Despite the short-term pressure on the market, some positive factors still leave a spark of hope for bulls. Spot buying remains strong, with Coinbase's premium indicator maintaining a significant positive range, reflecting that spot demand in the US market provides some support for prices. In the past month, the demand for spot goods has been steadily released, with a cumulative net purchase of 95800 units, "said BTC analyst Axel Adler Jr. At the same time, nearly $280 million in long futures positions were liquidated, clearing out excessive speculation in the market, which could lay the foundation for a more sustainable upward trend in the future. 04 Breakthrough Direction and Future Trends Market analysts are closely monitoring several key price points. The support level of $108500 is crucial, and if it falls below, it may open up further space to explore $107000 or even $100000. On the other hand, if the price can effectively break through $110000 and stabilize, it may test the resistance zone of $112000-112600 again. Paul Howard, a senior executive at Wincent, said, "This correction is a healthy one." However, he also acknowledged, "This is the first time I have questioned whether cryptocurrency prices can reach a new historical high this year For future trends, market analysts generally believe that $107200 is a key milestone. If Bitcoin can successfully break through this level, it may reignite bullish enthusiasm; On the contrary, if the current support is lost, the market may test the psychological threshold of $100000. Traders are ready and waiting for the moment when the deadlock is broken. Regardless of the direction of breakthrough, it may trigger a strong trend movement, injecting new vitality into the dull market Operation suggestion: BTC 108850 long first target to watch 109850 second target to watch 112765 ETH 3965 long first target to watch 4030 second target to watch 4100 Join the language community communication group to obtain more services 1. Real time troubleshooting (online one-on-one question answering and sorting) 2. Professional technical analysis and theoretical learning 3. Construction and improvement of trading system- 4. Live streaming courses every day, contract termination, real-time order making, to help you successfully land! Every day, there are teachers in the group who provide precise positioning to answer questions and offer free guidance. Tencent Meeting Live: 985-066-2513 DingTalk Group Number: 120320009032 Disclaimer: The above content only represents the author's personal opinion and is intended to assist investors in understanding information related to the capital market. It does not constitute any investment advice and does not represent the position or viewpoint of AiCoin. The market is risky and investments should be made with caution.