The current 90 minute cycle K-line shows that BTC price is above the EMA24/52 moving average, showing an upward trend. At the same time, the appearance of the red three soldier pattern, coupled with the continuous growth of the MACD bar chart, indicates that the upward momentum is still strengthening. However, the membership indicator shows that KDJ has entered the overbought zone, with an extremely overbought J value, indicating a high risk of a pullback.
In addition, the distribution of chips shows a strong resistance zone near 104693.5, with a significant peak in trading volume. The current price is approaching the region, and if there is no significant volume breakthrough, it may trigger a retracement to the support level of 104046.5.
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The data is sourced from the PRO member's [BTC/USDT Binance USDT perpetual 90 minute] candlestick, for reference only, and does not constitute any investment advice.
