The Bitcoin conference continues to bring good news, but the market isn't buying it. The main force has been fixated on James's large long position, which was just $100 away from liquidation last night. After a short-term rebound, they attempted again this morning to force James into liquidation, but failed. He was passively liquidated, and his position has now dropped to $178 million, with the liquidation price at $104,600.
As mentioned yesterday, whenever James makes a large trade, the main force will go against him, and I also pointed out the short-term pullback risks. Since James's position hasn't been completely liquidated, there may still be attempts to test lower levels.
The 4-hour level has entered a trend adjustment phase, with the 104,000-102,000 range serving as support. Currently, there are many institutions queuing up to buy BTC, so the bullish strategy for the second half of the year remains unchanged; everyone must hold on tight.
