September 1 market update: ETF funds have significantly retreated! Divergence between volume and price is evident! Can Bitcoin break through 82,000 in the short term?

CN
1 hour ago

Will Bitcoin break through 82000 directly in the short term? To be honest, I think it is very difficult.

Why do I make this judgment?

First, let's look at the long-short trading intensity at the 4-hour level. The blue bullish trading volume curve on the chart clearly shows that the bullish volume has been shrinking, with the rebound strength becoming weaker and the rebound highs continuously moving lower.

On the short side, there is also no sufficient sustained strength. Simply put, both bulls and bears currently lack the ammunition to break out of the larger trend.

From the daily trading volume perspective, after the volume peaked at 80,000 on August 25, it has been continuously declining. The volume keeps contracting, and the price is stuck within a range,the issue of volume-price divergence has still not been resolved.

Now let's look at the funding situation. Last week, the net inflow of the Bitcoin ETF was about 924 million dollars, compared to the previous week's inflow of 1.92 billion, a direct reduction of 51.8%. Moreover, on August 28, there was also a net outflow of 202 million dollars, ending the previous nine days of inflow, indicating that buying power is indeed weakening.

Additionally,Binance Bitcoin reserves have reached 687,000 coins, a new high since 2026, which means that potential selling pressure in the market is continuously accumulating.

In contrast, the stablecoin reserves on exchanges have dropped from 80 billion dollars to 64 billion dollars, reducing the idle money available in the market for bottom fishing.

Open contracts have also fallen from 331,000 BTC on August 21 to 318,600 BTC, with many leveraged bulls quietly reducing positions and exiting. The 8-hour average funding rate is 0.00821%, indicating that the short-term long positions are still relatively crowded.

The key resistance range 80000-81500 dollars is currently the most important pressure zone. To genuinely break through 82000, there must be a corresponding increase in volume and new market catalysts, which are currently not met by the current market conditions.

As for the support level, 77000-78000 is the first major support; if it is breached, the next key observation range will be 75500-76000.

My personal view: Bitcoin still has upward momentum in the short term and may have a chance to reach 78900 dollars. However, the real test lies in the 80000 to 81500 range, and the probability of directly stabilizing above 82000 in the short term is very low.

Moreover, the non-farm employment figures to be released on Friday represent the biggest variable; the market anticipates the addition of 55000 jobs. If new employment is below 30000, Bitcoin has the opportunity to challenge 82000; conversely, if employment data exceeds 80000, the market may pull back, even testing 75000, and in extreme cases may drop to 72000. Honestly, this kind of narrow fluctuation with back and forth movement is quite exhausting, particularly testing everyone's patience.

Valuable information is not easy, please like, share, and follow for synchronized operations.

This review of the market does not constitute investment advice. Cryptocurrency is highly volatile, and trading contracts involve high risks; please manage your positions reasonably.

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