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Today, the Bitcoin market is showing some interesting technical indicators. On September 3rd, BTC formed a golden cross pattern on the 12-hour chart and is currently operating at the 4-hour level.
Market participants should closely monitor the following key price levels:
Support level below:
- 110,300
- 109,400
- 108,250
Resistance level above:
- 113,100
- 114,200
- 115,300
The market sentiment indicator shows that the current BTC long-short ratio is 1.56, and the fear index is at a neutral level of 55. In actual trading, the long-short ratio is close to equilibrium, at 52:48. It is worth noting that the overall long-short ratio across the network has reached a complete balance of 50:50.
For traders, it is crucial to identify clear market patterns, and setting reasonable stop-losses should not be overlooked. In the current market environment, it is especially important to remain cautious and rational.
Overall, the Bitcoin market is currently in a delicate balance, with both bulls and bears evenly matched. Investors need to closely monitor the breakout or rebound of the key price levels mentioned above to seize potential trading opportunities. However, given the uncertainty in the market, it is advisable for investors to conduct thorough research and risk assessment before making any decisions.