According to the data of major single orders in the past 12 hours, the transaction volume of buy orders reached $306 million, far exceeding the sell orders by $255 million. The net inflow of major orders was $51.71 million, showing a clear willingness to go long. Among them, the $60.04 million main buying order of Binance contract at the level of $117500 is particularly eye-catching, laying short-term support. However, the extremely overbought J value combined with EMA24 below EMA52 suggests that there is still a risk of a pullback.
The current red three soldier pattern and trading volume have surged by 299.96%, further confirming the bullish strength, but the distribution of large orders suggests that the key pressure level may be at $118000.
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The data is sourced from the PRO member's [BTC/USDT Binance USDT perpetual 1-hour] candlestick, for reference only, and does not constitute any investment advice.
