This Bitcoin market situation is simply unexpected! The liquidity gap originally focused on 108,000 - 109,000 was directly pulled through by spot buying. The news of the China-U.S. talks is too powerful, and the market took off immediately.
Now the situation is a bit strange; although the price has reached a higher settlement zone, it hasn't triggered a chain reaction of liquidations. This position is too awkward; shorting is risky because of potential rises, and going long is risky because of potential drops. If it can pull back to the starting point of 108,900 after some fluctuations during the day, or if there are new positive factors for high-level fluctuations, it is likely to rush towards the liquidation zone near 114,000.
Last night, I was hoping for a pullback after the liquidation, and indeed there was a small pullback, but the market didn't give any chance for fluctuations and continued to rise directly, moving too "sickeningly," with no intermediate consolidation or fluctuations, just another 5% bullish trend.
In the short term, the price has reached the high end of a large range, where liquidity attraction and supply pressure are in a tug-of-war, making it difficult to trade. The previous small-range strategy is no longer valid; the market has entered a large range mode.
If you don't understand it, just wait and see. Losing some money in this kind of market is normal; don't hold on stubbornly!
