The latest 4-hour cycle K-line shows that the price has fallen below the key resistance level near $113500. The member exclusive chip distribution indicator shows that there is a clear chip concentration area above $115097, with heavy selling pressure. Combined with the recent black three soldier pattern and the MACD double top signal, the market sentiment tends to be bearish.
The current EMA24 and EMA52 are in a bearish alignment, and the RSI has failed to break through the upward trend line, further verifying downward pressure. The trading volume has shrunk to a recent low, indicating that the bulls are unable to counterattack. Pay attention to the 111640 USD chip intensive area below.
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The data is sourced from the PRO member's [BTC/USDT Binance USDT perpetual 4-hour] K-line, for reference only, and does not constitute any investment advice.