The BTC Strategic Reserve Act in Arizona has been passed, making it the first state to recognize the status of cryptocurrency assets. Although the purchasing power of a single state is not enough to affect price trends, the symbolic significance outweighs the practical significance. Where there is one, there will be a second!
The liquidation map shows that if the price breaks through 97,500, nearly 1.5 billion dollars in short positions will be liquidated, and if it falls below 90,000, over 2 billion dollars in long positions will be liquidated! The competition between bulls and bears is fierce!
I provided a short selling strategy during the day and made a small profit before exiting. The crypto reserve act has made me doubt whether the price will rise again. Although there is a strong demand for a pullback from a technical perspective, the market is being firmly defended, and it is unable to drop. Bitcoin has been consolidating around 95 during the day, while Ethereum is consolidating above 1,800! For tonight's operations, Conan still suggests primarily setting up short positions at high levels, with long positions as a supplement during pullbacks! Pay attention to the resistance levels at 95,500, 96,000, 97,000, 98,000, and 99,500, and support levels at 92,700, 91,600, 90,500, 89,000, and 87,000.
