Analyze the Logic

Tonight's bullish sentiment mainly comes from James' $1.1 billion long position, of which most of the buying from 108,000 to 109,000 is driven by his own funds.

I suspect he wants to push the price to a new high, to stimulate market sentiment, accelerate the market, and then trigger a wave of shorts to take advantage of liquidity exiting.

However, the market is not buying it. As long as he doesn't buy, the price basically won't rise. Although the spot price has reached a new high, it immediately came down without any emotional continuation.

Now that the price has fallen from 109,000, I believe it's more difficult to rise in the short term. When it was crucial, no one pushed it, and now that it has come down, it's even less likely to push.

The essence of the market's major bulls is also major bears.

The $1.1 billion long position pushing the price up will also bring about $1.1 billion in sell orders.

No one wants to become the liquidity he pushed out.

Because once this sell order is executed, the sentiment could jump at any time, and the funds that pushed the price up later will be trapped, and no one wants to be stuck.

So next, the market is likely to first force James out of his position.

Either force him to liquidate and create fireworks, or force him to stop loss.

Whether it's liquidation or stop-loss, the market will find it hard to absorb a $1.1 billion position in a short time. According to hype's nature, it should still be taken over by himself, and then the market will slowly sell off.

So another round of correction is expected.