【$BTC Signal】Hold Cash and Wait — Key Support Test Under Deep Imbalance

$BTC Tested previous low support on the 4-hour chart. The price declined but open interest remained stable, indicating passive stop-losses by longs rather than active distribution by major players. Deep imbalance (53.49%) combined with significant buy order thickness suggests institutional support below. However, the price is still below the EMA20 (69892), RSI (44.71) has not entered oversold territory, and the current situation is only a potential stabilization zone, not a clear bullish setup.
🎯 Direction: Hold Cash
Market Analysis: The price has fallen from the high of 71085 and is now testing the key support zone at 69000-68600 (previous low and recent order blocks). The 4-hour candlestick shows a decline accompanied by shrinking volume, with buy/sell ratio fluctuating between 0.47-0.54, indicating no panic selling. Funding rates are slightly negative (-0.0067%), and combined with stable open interest, this rules out liquidation risk and suggests no major distribution by the main players.
Hardcore Logic: Bullish conditions are not aligned. 1) Trend-following failure: the price