The latest 1-hour cycle K-line shows that BTC has formed high trading volume support around 116606, which is the peak of chip concentration (HVN) in the near future, and there is a strong willingness to buy. However, the current trading volume has shrunk to the lowest level in recent times, and there is a strong wait-and-see sentiment in the market, increasing the possibility of price retracement to POC.
From the KDJ indicator, it has entered the overbought range and shown a convergence trend, with an increased risk of short-term pullback. At the same time, the dual top pattern of the MACD bar chart further confirms that downward pressure is accumulating.
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The data is sourced from the PRO member's [BTC/USDT Binance 1-hour] candlestick, for reference only, and does not constitute any investment advice.
