Today's Market Yesterday's short position took all day to play out, and it only dropped after the employment data came out... On-chain activity was pretty quiet yesterday... The profit-taking wave from short-term traders the day before also stopped... Back to a slight net outflow from exchanges... ------------- This week so far is basically a repeat of last week... 1) The resistance band above is still far away (price 2.5%~5%), refer to the previous post. 2) ETF continues to see net inflows... but the inflow volume is shrinking daily (Figure 1). Before today's market open, Coinbase premium z-score has been steadily decreasing over the past three days... So today's ETF inflow should continue to shrink... 3) With ETF inflows decreasing and Binance selling pressure persisting, the market continues its slow decline, just like last week (Figure 2). ----------------- Looking at the order book (Figure 3): After the drop just now, the 65k spot orders were completely eaten up during the employment data release... Price didn’t go up, so be cautious here. Observe for potential low buys. There’s a cluster of dense contract orders around 64.6k. This is a spot worth watching. If there’s a volume spike and a quick dip, it could be interesting. This area also overlaps with a POC from last weekend... So keep an eye on the 64.6k zone for low buys today. But only intraday, don’t aim for too much. There’s no support band below right now... This isn’t the time for swing trades yet (Figure 4). -------- To be continued.