Trump is still influencing the market, so the trading logic is likely chaotic. Currently, BTC is likely to return to the price level near Friday's bearish drop (110600)...
The current futures market's clearing liquidity shows a state where short positions are clustered and long positions are distributed evenly. The price is currently at a position in which both sides are areas of scarce liquidity, so it is quite possible that the price will first form a range for consolidation here;
To be honest, this market trend starting from 74000 should gradually reach its climax. The liquidity in the market has changed from sparse a month ago to dense currently. Once there are no longer liquidity vacuum areas at the price levels, this trend should welcome its final conclusion!
Previously, when it was time to clear the high liquidity, it was smashed down by Trump and insider trading. Yesterday, when it was time to clear the 103k long liquidity, it was called back by Trump. Since there is no logic in this market, we can only judge the internal supply and demand changes through the price reactions to positive and negative news...
Negative news cannot lead to new lows, indicating that the bottom is near;
Similarly, positive news cannot lead to new highs, indicating that the top has appeared.
So, in the end, it all comes down to whether the bulk of short liquidity above the previous high will be cleared... If you ask me about the probability, it’s 60%~
