A piece of news from the understanding king is preparing for the next round [fight over interests]. The US stock market has not completely broken down, and the crypto sector is once again leading the way.
Last night's short squeeze market saw Bitcoin reach the range near the previous high. After liquidating a huge number of shorts, the market quickly fell. Moreover, after a significant rebound following a drop to 106 in the morning, overall market panic sentiment began to spread again. The market has been in a continuous downward trend today, the pain of a dull knife cutting flesh; only those in the midst of it can truly understand.
Back to the market. The expected position for last night's pullback did not arrive, instead, the upward acceleration of the rising channel broke through and triggered many short stop losses. The smaller levels have again retreated into the channel, and the pullback to 106 did not receive support. As the market continues to decline, pay attention to whether there can be strong bullish price action near the lower edge around 105.
Several positions to pay attention to
Support position
First position 104820-105100
Second position 104000
Third position 103000-103500
Resistance position
First position 106050
Second position 107100-107700
Third position 108400
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