TechFlow news, January 14 — According to cryptocurrency analyst Mignolet, Bitcoin briefly dropped to $89K after breaking a key short-term support level. However, it quickly rebounded and reclaimed the previous critical support. This pattern is commonly referred to as "stop-loss hunting." On the daily candlestick chart, there indeed appears to be potential for a market reversal.
Yet, for an actual trend reversal to occur, decisive intervention by major players is ultimately required. Examining CPG (Coinbase Premium Gap) data, whale entities have been selling significantly. Typically, when buying whales absorb such sell-offs, we observe clear spikes in the data, as illustrated in the chart. This time, however, no such signal has emerged. Today's ETF daily inflow/outflow data may provide further analytical insights.
I continue to emphasize the importance of Binance activity. If yesterday’s dip truly represented a strong buying opportunity, Binance whales should have taken advantage and left visible footprints in the market’s buy ratio. Yet, no such evidence has surfaced. While the candlestick pattern suggests a potentially meaningful move, key players have not acted accordingly. This makes me concerned that many market participants may prematurely shift into a false sense of relief.
