BTC: As expected, the price has crashed to 104,000, is there a plan to explode the shorts next?!
Once again, I predicted this accurately. Two days ago, I said #BTC would induce shorts and drop to 104,000. This morning, the lowest was 104,500. If anyone still wants to criticize me, feel free to check my posting history and my actual trading profit curve. Now, let me share my latest views:
1. From the perspective of the chip structure: There is strong support around 103,600, and the trendline support is also near 104,000, which means there will be very strong support in the short term. Looking upwards, if 103,600-104,000 receives support, then bouncing back to 108,500 is very easy, and it might even reach 111,000.
2. From the perspective of estimated liquidation: Going down to 103,600 could only lead to a liquidation of 350 million, while if the price rises to 111,000, it could liquidate 2.1 billion. This difference is very significant, and whenever such a large discrepancy occurs, reversals are likely to happen.
In summary, within the next three days, there is a high possibility of dropping down to a minimum of 103,600, completing the inducement short scenario, and then rebounding to at least 108,500, resulting in a double explosion of both longs and shorts. I closed a batch of altcoin short positions I opened yesterday at the recent low and have already opened long positions in BTC. As long as the main force dares to push down, I will dare to buy low.
Feel free to chat at 清水的小天地; sometimes I share my views here.
