I didn't expect that in just one short weekend, the bulls accumulated a large amount of bullish liquidity below 102k. Currently, we can look forward to a price liquidation around 101.5k;
But the key price action remains that it cannot drop below 100k, because there is a lot of long-term bullish liquidity below 100k. Although the remaining positions are not many, they will still have a amplifying effect;
On the short-term level, once this wave of liquidation is over, as long as it does not break 100k, we can go long.
If it breaks 100k, then we can only enter the market on the right side to trade a medium to long-term bearish trend.
The opportunity to go long after breaking 102k, which I waited an entire week for last week, is finally approaching, but this time I really have no confidence. The spot premium has not shown any signs of recovery, it feels like aiming at prey, but the prey just stands behind a big tree..
