BTC, as usual, lacks liquidity.

5 thg 9, 2023

As mentioned in the previous article, BTC's upward momentum is weak. Even if the price temporarily rises above the EMA200, it's often due to positive news from Grayscale.
In the chart below, you can see that after briefly crossing above the EMA200, it returned to around 25,600 within a day, and the closing price didn't surpass the resistance level at 27,764.5.

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Looking at the three-day chart, it's even more evident that the Grayscale news primarily triggers emotional upticks. The long upper shadows on candlesticks suggest that despite these brief increases, the bearish trend hasn't weakened.

The support levels below are still around 23600 and 21500~21800.
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