BTC key resistance test failed, bearish signals dominate

The 1-hour cycle K-line shows that the price has formed a bearish swallowing pattern near the high point of 116980, and the top pattern confirms a local top. Coupled with the continuous contraction of current trading volume, the market activity has significantly decreased, indicating insufficient upward action. The exclusive chip distribution indicator for members further reveals that the price is constrained by the strong resistance zone of 118868.5, and the buying power in this area is limited. Short sellers are expected to continue to exert their strength. RSI fell below the 50 line and accelerated its downward trend, KDJ's death cross diverged, and technical resonance confirmed the downward trend. If the price cannot return above EMA52, the next target will point to support the low point of 114640. Unlock members to obtain precise resistance support levels and real-time main force movements! 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.