Today's market I didn't expect to see such a surge in the Asian market after being flat for half a day today Moreover, it is still in the context of the continuous decline and sell-off of Binance spot CVD .. And even though I've hit a few high shots in this wave, I haven't had a big release yet It seems like we haven't reached exhaustion yet .. In the end, it was still suppressed below 81k by a very abnormal coinbase spot pressure ------------ Let's first take a look at today's pending orders (Figure 1) Now that we're back at 80k, we're in the pressure zone of selling orders again. The sell orders for spot goods are concentrated above 81k. 82k has a big wave. The contract was also strong during the day, breaking through a bunch of sell orders in the Asian market (also taking advantage of short liquidity) Now there is only the largest wave around 82k on the contract. On the contrary, the most unusual thing today is Coinbase. A sell order for 900+BTC was placed near 80800 .. This volume is very rare on Coinbase (Coinbase's liquidity is usually only a few dozen BTC, which is considered a large order) I couldn't get past 80500 today . Today, I continued this huge order and felt a wave of scalp emptiness. ------------- Ribbon model (Figure 2) Since there is so much inventory on top, it can be imagined that the ribbon on top came out again when it was around 80k just now. So today we can still continue to observe and do this pending order for 80800 on Coinbase. As long as the price is close to this and the order is still in place, you can use the loss of this order as a stop loss to make a scalping gap. ------------- I've been saying these past few days that in order for bulls to continue rising, they need to stand firm at 80k I challenged myself again today, but couldn't stand firm and was crushed by Coinbase's huge order .. Today, there will probably be an 80k battle in the US market . ------------ Financial aspect (Figure 3) Today, Coinbase's premium is very positive After Americans wake up, they are almost always above the zero axis and have never gone down . So today, ETFs should still be able to continue net inflows It just depends on whether the net inflow of ETFs can go up and knock out Coinbase, which is 900+ .. ----------- The structure can also be seen more clearly today (Figure 4) The following two POCs have not yet touched today's and yesterday's in the range of 78.3k-78.8k If I step back today, it's a good low chance. As mentioned earlier, the high altitude is still below the Coinbase giant order at 80800