#BTCUSD
Currently, BTC rebounded again to test the upper resistance area of 115000-116000, indicating that buyers are still defending this structure, but it is still suppressed by the upper resistance. From a derivatives perspective, open interest has fallen by 0.91% over the past 24 hours, while options trading volume has also fallen by over 13%, indicating a decrease in speculative activity. Despite a 34.28% increase in 24-hour trading volume to $61.71 billion, the long-short ratio has fallen below 1.0, reflecting cautious market sentiment.
As long as BTC maintains above 114,000-113,000, the short-term structure remains neutral. If it fails to break through the overhead resistance and stabilize above 116,500, bulls may lose control of the lower trendline of the channel, triggering a renewed bearish push.
If BTC can successfully hold above 116,500, it could potentially return to 118,000 or even challenge the macro resistance level of 120,000. On the contrary, if BTC finds it difficult to break through the short-term resistance level, it will still return to the 114,000-113,000 area.
🚀 BUY 116,500-117,000
🚀 TP 118,000-119,000
Currently, BTC rebounded again to test the upper resistance area of 115000-116000, indicating that buyers are still defending this structure, but it is still suppressed by the upper resistance. From a derivatives perspective, open interest has fallen by 0.91% over the past 24 hours, while options trading volume has also fallen by over 13%, indicating a decrease in speculative activity. Despite a 34.28% increase in 24-hour trading volume to $61.71 billion, the long-short ratio has fallen below 1.0, reflecting cautious market sentiment.
As long as BTC maintains above 114,000-113,000, the short-term structure remains neutral. If it fails to break through the overhead resistance and stabilize above 116,500, bulls may lose control of the lower trendline of the channel, triggering a renewed bearish push.
If BTC can successfully hold above 116,500, it could potentially return to 118,000 or even challenge the macro resistance level of 120,000. On the contrary, if BTC finds it difficult to break through the short-term resistance level, it will still return to the 114,000-113,000 area.
🚀 BUY 116,500-117,000
🚀 TP 118,000-119,000
Trade active
As for the current BTC repeatedly testing short-term resistance, we once again accurately grasp its market trend and emphasize that if the short-term market cannot break through the short-term resistance, then BTC will still retreat to 114,000-113,000. For the traders in the group, I provide free signals and strategies, and I hope you can carefully review and think about them. I have already informed you in advance about possible future market conditions. Congratulations in advance to the traders who took reference and executed the information, and reaped substantial profits again today. Trading quality always comes first.✅✅✅
CFA® Charterholder | Senior Market Trading Analyst | Helping millions of users double their account funds
Free Telegram group:t.me/Insight_Precise_Analysis
Free consultation with tutors:t.me/Insight_PreciseAnalysis
Free Telegram group:t.me/Insight_Precise_Analysis
Free consultation with tutors:t.me/Insight_PreciseAnalysis
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
CFA® Charterholder | Senior Market Trading Analyst | Helping millions of users double their account funds
Free Telegram group:t.me/Insight_Precise_Analysis
Free consultation with tutors:t.me/Insight_PreciseAnalysis
Free Telegram group:t.me/Insight_Precise_Analysis
Free consultation with tutors:t.me/Insight_PreciseAnalysis
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.