BTC: Ready to break 108000, then a double kill for both long and short?
The market has been really boring these past few days, with #BTC showing almost no volatility, everyone is waiting for news and watching. I tend to think that after a double kill for both sides, the overall oscillation center will move downwards. Let me explain the logic:
1. From the estimated liquidation perspective: upwards to 108000 can trigger 1.6 billion, and downwards to 101000 can also trigger 1.6 billion, which fully indicates that the recent long and short views are actually 55 to 45, consistent with the recent oscillation market view.
2. From the chip structure perspective: 108000 is a resistance level, which happens to be near the pressure of the downward trend line, and in recent days, 104000 has repeatedly failed to break down. 104000 is also a support level from previous lows, and below that, 101000 is the support.
In my view, today the old man mentioned that he would go golfing over the weekend instead of dealing with Iran, postponing the decision-making time, and the market immediately started to rebound. Therefore, tonight the US stock market is also likely to rise, and BTC should continue the rebound trend over the weekend. I won’t go long; as the rebound occurs, I will continue to short altcoins gradually. I don’t see it going much higher, around 108000 is about it. After a few days, when WLFI gets listed, I will take some profits. The market will repeat the trend seen after TRUMP's announcement at the beginning of the year, having already been drained by #Circle , and then with another #WLFI , the script will definitely be a double kill for both long and short.
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