$BTC This wave is really hard to hold on to. When I looked this morning, it was still above 102000. Moreover, there are far more short positions than long positions, so I placed a long position near 102200. There is no sense of martial virtue at all; the 4-hour chart directly showed panic selling, driven by significant spot sell-offs due to news. Today, basically everyone who went long has been liquidated, including my long position, which has already been stopped out during the recent drop.

The commotion that happened Sunday night is quite significant. In the last 4 hours, 196 million in long user positions have been liquidated. Normally, if there is a drop on Sunday, it is very likely that there will be a recovery on Monday. If by midnight tonight, the price does not recover above 100,000, then it is very likely to continue dropping before the US stock market opens on Monday. The first support level is 97,000, and the second is 93,000.

Let’s observe for now; this could potentially be an opportunity, but it could also be a bull trap.