The 1-hour cycle K-line shows that BTC experienced panic selling around 114200, with trading volume skyrocketing by 133% but prices falling, indicating a concentrated release of short-term selling pressure. Member indicators show that the KDJ death cross, combined with the MACD bar chart contraction, confirms an increase in downward momentum, but a bottom pattern is emerging, suggesting the possibility of a local bottom forming.
The current price is below the EMA24 and EMA52 moving averages, but close to the key support level of 114000. If it can stabilize, it may usher in a rebound. The distribution of chips shows that the area above 118100 is a strong resistance zone, with significant suppression. In the short term, domestic demand should focus on the effectiveness of support for 114000.
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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.
