I didn't expect that in just one short weekend, the bulls accumulated a large amount of long liquidity below 102k. Currently, we can expect a price liquidation around 101.5k;

But the key price action still cannot break below 100k, because there is a large amount of long-term long liquidity below 100k. Although the remaining positions are not much, they will still play a role in driving the market;

On the short-term level, after this liquidation event is over, as long as it doesn't break 100k, we can go long.

If it breaks 100k, then we can only enter on the right side to trade a medium to long-term bearish trend.

The opportunity to go long after breaking 102k that I waited for the entire week last week is finally approaching, but this time I really have no confidence. The spot premium has not shown any signs of rising, it's like aiming at prey, but the prey just stands behind a big tree...