The price of Bitcoin is again bouncing around near 102210 USD, causing anxiety among people. Looking at the news, the U.S. government is about to reopen, but the crypto market seems to be in a daze, weakly fluctuating. Bitcoin even briefly dropped to around 100800 USD, with total liquidations reaching 445 million USD, causing massive losses for long positions!
News: Good news has all been exhausted, and the market is actually weak?
The U.S. government shutdown may be coming to an end, which is usually a good thing, but Bitcoin is not rising and has instead fallen, currently priced at 101510 USD, down 0.65% in the last 24 hours! Ethereum also dropped. The liquidation data is even more alarming, with nearly 12 hours of long positions liquidating 405 million USD, indicating a sluggish market sentiment, with both large investors and retail investors on the sidelines.
Sister Xin thinks this may be because the uncertainty during the stalemate period hasn't been fully digested yet, and the positive news has instead become a 'sell the fact.' In the short term, the market needs new catalysts, such as clearer policies or the entry of large funds, to break the deadlock.
Technical analysis: A battle for key positions, with death cross signals lighting up the red alert!
Looking at the 1-hour K-line chart, Bitcoin is currently stuck at the key level of 102212, facing a dilemma. The pressure above is immense: high resistance at 107000, rebound resistance at 105000; if it can't break through, it will have to turn back. The support below is also not weak: target support at 100500, bottom support at 98000; if it can hold, there is hope for a rebound. However, the technical indicators show a death cross below the zero axis, signaling a short-term downward trend, indicating that bears are temporarily dominant.
Sister Xin observes that if it falls below 102212, it may quickly test 100500; if it stabilizes, there is hope for a counterattack at 105000. In short, it is now a heated stage of bulls and bears, and it is important to speak with charts.
Sister Xin's view: Short-term fluctuations are leaning weak, but don't be blindly pessimistic!
Overall, Sister Xin believes that Bitcoin may continue to weakly fluctuate in the short term; positive news hasn't made much of a splash, and the technical death cross is applying pressure, with significant downside risk. But don't forget, 98000 is a strong support level, verified multiple times in history, and the probability of breaking below it is low. The market often finds a bottom in fear, and if negative news is fully priced in, it may even present a good opportunity to position. Retail investors should not panic and sell at a loss, but rather calmly observe and wait for a clear direction before taking action.
Operational advice: Maintain a light position and wait for clear signals!
If your position is trapped: If the price falls below 102212, it is recommended to reduce your position or cut losses, and consider re-entering around 100500 to control risk.
If you want to bottom fish with no position: Don't rush, wait for the price to stabilize above 102212, or try a small long position when it tests 100500 without breaking.
Remember: Position management is key, don't go all in at once; there are always opportunities in the market.
What should retail investors do?
The market is highly volatile, but Sister Xin will keep an eye on it with you! Feeling confused? Follow Sister Xin for practical analysis and real-time reminders every day to help you avoid pitfalls and make money. Do you think Bitcoin will fall below 100000 this time?
What retail investors need to do is to 'patiently wait for opportunities and act decisively and accurately.' Follow Sister Xin to get daily real-time strategies and loss prevention guidelines!
