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BTC is currently in a Rebound phase, not a reversal trend. It has broken through the descending trend line on the 4-hour chart, and the long positions volume is showing an increasing trend, while the short positions volume has significantly weakened, indicating that the short-term rebound is expected to continue.
From the weekly level, it is still in a downtrend, and the target price for this rebound may be around the weekly retracement level of 111.4k.
In addition, ETF institutions had a net inflow of $330 million yesterday, and this funding signal also supports the rebound trend for a period of time.
Nighttime pullback 111.2k-111.7k long positions, target 113k
114k, 115k.