BTC/USDT sees massive selling pressure, 2-hour cycle may face critical decline

The latest 2-hour cycle data shows that prices have shown a black three soldier pattern, and KDJ has a dead cross, with a clear bearish trend in the short term. Based on membership indicators, the current trading volume has surged to the top 10% recently, but the daily volume has decreased by 10.14% in the past 20 days, indicating that massive selling pressure dominates the market. In addition, the price has fallen below the support of the EMA24 and EMA52 moving averages, intensifying downward pressure on the medium to long term trend. The distribution of chips shows that the peak trading volume at the resistance level of 118654.5 is as high as 4.79 times, and long attempts to break through have been unsuccessful. The current price has returned to the area below POC. Combining the bearish candlestick pattern with chip resistance, it is possible to further explore the strong support of 116587.5 in the short term. Accurately capturing the main force dynamics, member exclusive chip distribution and real-time abnormal monitoring, helping you stay one step ahead! The data is sourced from the PRO member's [BTC/USDT Binance USDT perpetual 2-hour] candlestick, for reference only, and does not constitute any investment advice.