Bitcoin is still fluctuating in the range of $94,000 to $95,000, currently slightly retreating below $94,000. The overall trend still leans bullish, but one must be wary of signs of 'top accumulation'. Currently, short liquidity is highly concentrated around $96,500, and the density of liquidations is approaching the critical value, resembling the structure just before the breakthrough of $85,000.
On the other hand, the liquidity gap in the 97k to 98k range has not been fully replenished, so in the short term, there is a high probability that the sweep around 96,500 will occur. However, whether it can push up to above 98k and truly enter the upper liquidation zone, the sponge here still maintains a reserved attitude and cannot see a definitive breakthrough signal for now. Wednesday's small non-farm payroll and GDP, and Friday's large non-farm payroll and unemployment rate, will inevitably bring significant volatility to the market. Theoretically, there are two scripts:
If the data is slightly bullish, the price will most likely first sweep away the short-term short liquidity above 96,500, directly pulling towards the range of 98,000 to 100,000; subsequently, there may be a wave of retracement, falling back to the current fluctuating range.
If the data is slightly bearish, it may lead to a price retracement before reaching the short liquidation zone of 96,500; however, as long as subsequent long entries do not appear too aggressive and the overall leverage remains stable, there is still a possibility that the price will rebound after a round of downward adjustment and attack again to liquidate the upper short liquidity.
So prepare for both scenarios:
(1) After the second breakthrough of 95,750, there will be new highs, and high short positions need to be defended at 96,000.
(2) Low longs are relatively simpler; stop loss at breakeven or around 93,600. If 93,600 is broken, then buy in the range of 93,350 to 92,800.
Support around 93,000 is quite strong; if it breaks below here, it will upgrade to a daily level adjustment, which means a retracement to the 92,000 to 90,000 mark. If it holds and rebounds, the adjustment will end, and it will choose a direction upwards.
Currently, there is no top divergence on the daily line, and the short-term bias is bullish. It is temporarily cautious to chase shorts and can only make short positions at highs.
ALPACA ten times in ten days - Binance's delisting of Alpaca turns out to be a scheme.
After the voting initiated by Binance to delist ALPACA, it experienced severe fluctuations, skyrocketing from a low of 0.0278 to 0.95 within just a few days, with an increase of several dozen times. Yesterday, the price quickly fell from a high of 0.34 to 0.06, leading many to mistakenly believe the market had ended and start positioning short positions. As a result, ALPACA surged again, instantly skyrocketing to a more than tenfold increase.
Among the coins listed for delisting by Binance, those that can be ramped up recklessly are actually very rare. Usually, it first drops to the bottom, then rebounds by one or two times, but in most cases, it will eventually drop back, even continuing on an infinite downward trend. This trend has become the market's inertia expectation and is the script most people tacitly accept. Therefore, for these delisting coins, most funds will choose to watch and are unwilling to intervene significantly, only a few speculators will try to make a quick profit from short-term trends.
Recently, some people have gambled on ALPACA's decline with their lives, and have already lost everything, which teaches us a bloody lesson once again:
Yesterday, the sponge analyzed the reasons and consequences of ALPACA's delisting in the community group. For those with too high heat, where the contract trading volume is much higher than the spot, it is important to maintain sufficient respect; the best way is to do less or not at all.
Additionally, it can be confirmed that Binance's delisting of ALPACA was not a spur-of-the-moment decision, but a premeditated scheme, which could not be accomplished by a small project alone, undoubtedly requiring the cooperation of the Binance exchange.
Is Trump going to issue a coin again?
Following NFT, WLFI, and TRUMP, the Trump family is about to launch its fourth cryptocurrency related to it. According to a shareholder letter released this morning, the digital wallet Truth is preparing to issue a utility token, which users can use to subscribe to paid services within the platform, essentially serving as the 'platform coin' for that wallet.
Let me tell you a typical script:
At first, everyone collectively complained, thinking 'Trump is here to harvest the crypto community's leeks again';
But the smartest group of people has long been prepared, charging in at the opening, while saying 'those who rush in are foolish', secretly thinking 'whoever doesn't rush in is the real fool';
As FOMO sentiment spread, those who were originally firmly watching could not resist getting on board;
After all, it's 'a president issuing a coin', the topic must be maximized, but the sustainability of the heat may not match the first time;
According to the script, the exchanges that should go live will go live; this time the operating team may be more professional and more market-savvy;
The final outcome will inevitably include a wave of 'panic selling' that brings down the market, leaving a group of people who didn't earn anything and are reluctant to leave, staring blankly at the charts.
The crypto market has always been a process of survival of the fittest, a process of sifting through the sands of time! If you want to avoid being eliminated, you must make a change!
Every penny you earn is a realization of your understanding of this world; every penny you lose is due to your cognitive shortcomings. The greatest fairness in this world is that when a person's wealth exceeds their understanding, there will be 100 ways in this society to harvest you!!
Until your understanding matches your wealth. Waiting for a bull market is the most grueling!
But if you wait for it, you will know what it means to endure hardship before enjoying the sweetness; everyone must not leave the market, the hard days are about to end, and a violent bull market is coming!
If you have been stumbling around in the crypto space and can't find direction! Or if you have been losing money! You can follow me.
