The recent cryptocurrency market is like a still lake, with Bitcoin repeatedly hovering around $87,000. Bulls and bears are secretly competing, neither willing to break this strange equilibrium first.
The most interesting thing is the market's "regularity." Every night around 11 PM, sell orders appear on time, forming a fixed routine over several days. An experienced trader jokingly mentioned this phenomenon, with a look of helplessness: "This is more reliable than my alarm clock."
On-chain data reveals clues—Bitcoin reserves on exchanges have shrunk by about 8% since early August, and market liquidity has been drained completely. Even the most vocal bullish analysts have changed their tune, adopting a more cautious and conservative stance.
**Technical analysis has been pushed to the limit**
From my years of trading experience, Bitcoin is now stuck in an extremely narrow range. On the 4-hour chart, the price oscillates around $87,000, with stubborn resistance at $88,300-$88,900 and support at $86,000-$84,000. This extreme compression often indicates a big move is brewing—like a spring being compressed to its limit, ready to release at any moment.
The futures market is also very particular. Open interest fluctuates between $55 billion and $60 billion, with traders unwilling to truly exit their positions. Instead, they continue to hold leveraged positions, betting on the direction. This is a sign of building momentum—energy is accumulating.
It’s also important to note that Bitcoin is still under the downward trendline formed since the peak of $126,000 in October. Every rebound attempt hits a wall at this line, gradually eroding market sentiment through repeated failures.
The most interesting thing is the market's "regularity." Every night around 11 PM, sell orders appear on time, forming a fixed routine over several days. An experienced trader jokingly mentioned this phenomenon, with a look of helplessness: "This is more reliable than my alarm clock."
On-chain data reveals clues—Bitcoin reserves on exchanges have shrunk by about 8% since early August, and market liquidity has been drained completely. Even the most vocal bullish analysts have changed their tune, adopting a more cautious and conservative stance.
**Technical analysis has been pushed to the limit**
From my years of trading experience, Bitcoin is now stuck in an extremely narrow range. On the 4-hour chart, the price oscillates around $87,000, with stubborn resistance at $88,300-$88,900 and support at $86,000-$84,000. This extreme compression often indicates a big move is brewing—like a spring being compressed to its limit, ready to release at any moment.
The futures market is also very particular. Open interest fluctuates between $55 billion and $60 billion, with traders unwilling to truly exit their positions. Instead, they continue to hold leveraged positions, betting on the direction. This is a sign of building momentum—energy is accumulating.
It’s also important to note that Bitcoin is still under the downward trendline formed since the peak of $126,000 in October. Every rebound attempt hits a wall at this line, gradually eroding market sentiment through repeated failures.
