#BTC has reached 98000 already. For the past two days, it has been very clear that after the 94000 short squeeze ends, it will aim for 100000. Many people are still shorting and when they get trapped, they come to vent their anger on me. Trading requires objectivity and rationality. Those who do not respect the market will ultimately suffer themselves. Here are my latest views:
1. From the estimated liquidation perspective: 10,000 here can blow up 1 billion. This is also a round number, and often it is difficult to firmly establish a position at round numbers.
2. From the chip structure perspective: aside from the 100,000 round number + resistance level, the levels of 102,000 and 104,500 are two consecutive resistance points, making it quite heavy with pressure. Moreover, last night Powell announced no interest rate cut, so the probability of breaking through 100,000 all at once is relatively low, so do not chase the highs.
3. Arizona announced the establishment of the first cryptocurrency reserve account, which also represents the further strengthening of BTC's position. Why do some people always like to short a rising sun???
In summary, last night Powell announced no interest rate cut, and BTC did not fall but instead rose. What reason is there to be bearish? I have never been bearish on BTC. Those of you who are bearish on BTC have not experienced enough losses from shorting BTC. If I were to short, I would only short garbage altcoins, and most of my profits come from shorting garbage altcoins. Being bullish on BTC and bearish on garbage altcoins are the two directions with the most long-term certainty. Lastly, I would like to say that BTC will briefly hit 100,000 or even 101,000, but it is likely to pull back afterward. For those who haven’t entered yet, consider it when it pulls back. If you are trapped in a short position and do not want to cut losses, wait for the pullback before exiting.
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