As soon as the CPI data came out, Long Ge said to short high. It's a pity we didn't reach the needle area Long Ge mentioned. This drop of 8000 points still left the longs hanging on the mountain!
Long Ge also explained why to short this wave, as the current situation is very tense, and Bitcoin has reached the crucial position of 110,000. Last night, global funds also rushed into gold, making a risk-averse move, which further indicates that the funds will withdraw from speculative operations at this moment, causing Bitcoin to plummet by 8000 points, with the liquidation amount reaching 6.9 billion in 24 hours!
Now we need to see if Bitcoin can hold the range of 102,000 to 100,500. If there is an upward trend, it would be a classic gate drawing pattern. If there is no volume over the weekend, it will be a sideways downtrend. We'll see what positive news comes on Monday to pull it back up. If it doesn't follow the gate drawing trend, it will continue to decline in the later stages!!
