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As the Asian market opens, BTC's trend is much clearer than last night.
The most obvious point is— the price has not continued to decline, but has instead stabilized at a key support level. What signals does this behavior reveal?
Generally speaking, if it were truly a weak market, the price would break through these levels early in the session. But the current situation is different. The bulls seem to be waiting for a confirmation signal, and the bears have not launched an effective push down.
This leads to two possibilities: one is a trap to lure in retail investors before dropping the price; the other is a continuation of the bullish momentum after accumulation, with the potential for the price to break through the upper resistance.
Looking at the market structure, some do not want BTC to continue to be cheap—this is a fact. The key question is: is this force testing the market reaction, or is it truly gathering strength for a move?