BTC has completed the liquidation of all short liquidity at 103000 and even 104000. Looking at the current market, we can see that the remaining short liquidity above the current price is only at 105000 and 106000, and above this price level, there is a complete vacuum of liquidity.

Therefore, at least within this week... it is unlikely for the price to break through 106000. So in my view, the current situation should be much clearer:

1. Short liquidity (fuel) is almost exhausted!

2. The total amount of unliquidated long liquidity is relatively high, but scarce near the current price;

It can be expected that 100000~106000 will become a new range of fluctuations until the short liquidity above 106 fills this gap or the long liquidity around 97000 completes its accumulation.

For those holding long-term short positions, the liquidation price is very high, and after this round of second-stage rally, they must be quite anxious. In fact, this is exactly when the price is about to start fluctuating.