BTC's short-term trend is under pressure, focus on key support tests

The exclusive chip distribution data for members shows that the current price is approaching the strong support area of 113840, where trading volume is dense and buying power is strong. However, the KDJ indicator diverged downward, coupled with the continuous reduction of the MACD bar chart, indicating that short-term downward momentum is strengthening. The trading volume has shrunk to a recent low, and the market has a strong wait-and-see sentiment, further exacerbating the downside risk. The 1-hour cycle K-line shows a bearish signal for the black three soldiers, coupled with resistance suppression from the flat top, the price may test the support level below. If it falls below 113840, it may accelerate its downward trend to the low point of 113304.5. Open a membership to receive precise support resistance levels and real-time movement alerts! 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.