$BTC BTC still remains in the critical resistance zone between 72K to 75K, where it is testing the range high and approaching the bear flag high. This is occurring within our broader BTC resistance zone that extends to 72K to 80K. Following this retest, BTC has shown a 4-hour bearish divergence, while USDT dominance has shown a 4-hour bullish divergence. This means caution should be exercised regarding new long positions. Shorting remains more appropriate. Observing CVD flows, we are seeing significant spot distribution at these levels, while price is mainly supported by contract positions.

Meanwhile, USDT dominance is again approaching the 7.60% range low, potentially extending to approximately 7.35% bull flag low. As long as these flags remain intact, it is possible to eventually lead to lower levels in the market, which is similar to the pattern we observed earlier this year. If these flags play out, my target is to reach at least the bull flag high on USDT and bear flag low on BTC over the coming weeks, and potentially break through these flags. I believe this will lead to a highly volatile period in the crypto market. There remain similarities with the price action from June 2022. #加密市场上涨