$PYTH forms a downward continuation platform at the 4H level, with prices suppressed below EMA20 (0.0456), and the rebound is weak.
🎯 Direction: NoPosition
Market Analysis: Prices have retreated from a high of 0.0464, continuously closing in the red. The latest 4H candlestick buy/sell ratio of 0.5 shows a balance between bulls and bears, but overall trading volume has shrunk, indicating that the downward momentum has temporarily slowed, though this is not a reversal signal.
Core Logic: The key contradiction lies in the data divergence. The funding rate (-0.0013%) is negative, usually signaling bearish dominance or potential short squeeze, but the open interest (OI) trend is 'stable' rather than rising, weakening the short squeeze logic. Meanwhile, deep imbalance (1.45%) shows that sell orders (Asks) are significantly heavier than buy orders (Bids), creating heavy selling pressure above.
Technical Resonance: RSI (41.68) is in a weak zone but not oversold, with prices below all key EMAs (20/50), indicating a downward trend. The order book shows dense buy support from 0.0445 to 0.0447, but the selling volume from 0.0445 to 0.0446 is larger, forming short-term pressure.
Trading Plan: The current structure is a weak consolidation, lacking clear signals for going long or short. Going long requires waiting for prices to regain above EMA20 (0.0456) accompanied by an increase in OI; going short requires waiting for a rebound to the key resistance zone of 0.0459-0.0462, along with a positive funding rate and a decrease in OI. Currently, it is advisable to stay out and observe, waiting for the market to choose a direction.
Trade here 👇
$PYTH ---
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