BTC Market Analysis
Bitcoin (BTC) has shown extremely strong momentum in this round of increases, not only breaking through the $100,000 mark but also surging past $102,000. As shown in yesterday's liquidation map, the short liquidity around $102,000 has been harvested, and the price additionally rose by 2,000 points, forcing investors who shorted at this level to close their positions.
From a technical analysis perspective, this wave of retracement has achieved an 80% recovery of the Fibonacci retracement on the daily chart, and the key Fibonacci level at $102,000 has also been breached, leaving only the historical high above. Whether this round of trading can create a new historical high remains uncertain.
Currently, the liquidation map shows that there is no significant liquidity above, and even the last liquidity area at $102,000 has been depleted. Moving forward, we need to be cautious of market sentiment rising too high, which could lead to the accumulation of short positions again. If this happens, liquidity will reappear, potentially triggering a spiral change in market conditions.
