$BTC accelerated downward after breaking the EMA20, testing a key liquidity area. The order book depth is severely imbalanced, with the sell wall (Asks) thickness far exceeding the buy orders (Bids), indicating heavy selling pressure above.
🎯 Direction: Short position
The price has been continuously closing bearish on the 4H chart, with RSI(14) falling to 36.42, entering the oversold area but not diverging. The funding rate has turned negative (-0.0043%), but the open interest (OI) trend is stable, not a typical short squeeze or major selling structure, more like a chain reaction of long leverage liquidation triggering a downward movement.
The key observation point is in the 66500-66800 area, where it overlaps with the previous transaction dense area and the lower ATR (1363) boundary. The order book shows significant sell orders accumulating around 66815 (7.6 BTC), need to observe whether the buy orders can form effective absorption here. If the price can stabilize with reduced volume in this area, accompanied by RSI divergence and deep imbalance correction, then consider entering a long position on the left side. Currently, there are no clear reversal signals, patiently waiting for price action confirmation.
Trade here 👇$BTC
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