BTC: This pullback will smash back to the 90s!!!
I've been very busy with work these days, #BTC is just my side job. I didn't even have time to write the latest analysis yesterday. From last night to today, BTC surged up to the 106,000 I mentioned before, but then fell back down. Where is the bottom? Is it still 98,000? No, I need to correct that. Let me share my latest views today:
1. From the estimated liquidation perspective: going up to 108,000 can explode 1 billion, but going down to 99,000 can only explode 400 million. From this point of view, going up to 108,000 is definitely necessary.
2. From the chip structure perspective: the recent pressure above has changed from 106,000 to 105,000, and the support at the 100,000 integer level is a relatively strong position. Last night’s lowest was 100,678 and it couldn’t go down further. However, what I want to say is that the profit-taking from the bulls recently is too large. If it doesn’t get washed out here, it’s really hard to continue moving upwards. So if we really want to create a washing effect, the 100,000 integer level must be broken to return to the 90s. This way, many people will be scared that they bought at the top, and will the chips get washed out soon?
In conclusion, my script is: to smash down to this wave's bottom of 99,000. It would be best if tonight's CPI data surprises everyone, pushing those who chased high to panic sell, washing out the chips. The main force can then sell high and buy low comfortably to make a spread and reclaim the chips. Then, just when everyone thinks it will continue to drop, it will quickly pull back and even push up to 107,000 or 108,000 to blow up a batch of shorts.
Lastly, if you want to boast, please join 清水的小天地.
