$BTC has recently reached the $98,000 level. Over the past two days, it has been evident that following the short squeeze around $94,000, the price trajectory has been targeting the $100,000 psychological threshold. Despite this, a significant number of market participants continue to maintain short positions, and as these positions are liquidated, emotional reactions tend to overshadow rational analysis. It is essential to approach trading with objectivity and discipline—those who disregard market dynamics often incur substantial losses.
Key Technical Observations:
1. Liquidation Risk: Based on current market data, a $10,000 move has the potential to trigger liquidations totaling approximately $1 billion. The $100,000 level represents a psychologically significant round number, which often acts as both a magnet and a barrier due to clustered order flows and hesitation in establishing strong positions.
2. Resistance Structure: Beyond the immediate psychological resistance at $100,000, additional$BTC