【$BTC Signal】Hold off on trading — Downtrend continuation, waiting for key support confirmation

$BTC After breaking below EMA20, the market entered a weak consolidation phase, showing a downtrend continuation pattern on the 4H timeframe. The price fluctuates narrowly between 66,100 and 66,700 but lacks rebound strength, and the bulls have failed to reclaim the key moving averages.

🎯Direction: No Position (NoPosition)

Market analysis: The price has broken below EMA20 (67,391) and continues to trade below it, which is a clear signal of a short-term trend weakening. The 4H candlestick chart shows that each rebound high is decreasing (66,778 -> 66,650 -> 66,187), indicating persistent selling pressure.

Hardcore logic: Current open interest (OI) remains stable, funding rate is slightly positive (0.0007%), and the structure is not typical of short squeezes or major dumps. However, order book depth imbalance shows significant buy-side thickness (Bid/Ask Ratio: 1.58), suggesting institutional support around 66,100.

Core contradiction: Technical indicators are bearish (RSI 39.8, below EMA20), but order book shows strong support. The price is in a critical decision zone — the previous low at 65,081 is an important liquidity point. If it breaks below, downside space opens; if it rebounds with volume and recovers above EMA20, it indicates a healthy reset.

Risk control perspective: ATR is as high as 1,364 points, indicating high market volatility. The current price is in a middle, ambiguous zone, with unclear risk-reward ratios on both sides. The best strategy is to wait for the price to make a clear directional move, such as reaching a defined key level (like 65,000 support or 67,500 resistance) before acting.

Trade here 👇 $BTC

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