$BTC (Contract Idea), this large starting point at this position
【110,000? Or Black Friday? ETH welcomes $2.27 billion in quarterly options expiry, with the biggest pain point at $2,200!】
↓
BTC's recent movement has been strong, currently with 108,000 short liquidity, which has been thoroughly liquidated, and it will soon reach a critical position for bulls and bears to contest, 110,000.
The bull whales have clear targets; the low liquidity area above the price needs to be filled quickly. Once this area is filled, it can directly surge towards the huge Manhattan zone at 110,000, pressing the bears to the ground.
As for the bears, it remains to be seen whether they can quickly gather around 103,000 this week.
In the current situation, BTC is likely to oscillate between 107k and 108k for a day or two. The short liquidity above is gradually being replenished, just like setting up a springboard for the 110,000 Manhattan zone. The longer the oscillation drags on, the happier the bulls become. Why? Because the bears want to turn things around, either waiting for bad news to crash the market, or just hoping for a pullback to catch their breath. But right now, the bulls are gradually reducing their positions, making the vehicle lighter and able to run faster;
From the perspective of liquidity:
How to operate? In the short term, the oscillation range of 107k to 108k is suitable for light observation. A breakout above 108k can chase long positions, and if a pullback to 103k stabilizes, that would also be a good entry point. Macro data to be released at 8:30 PM (KST) is worth watching, with June CPI expected at 2.3%. If the data is below expectations, the ultimate expectation may heat up, and BTC could directly break through 108k; if it exceeds expectations, the pullback pressure will come, making 103k a key defense line.
Currently, there is continuous net inflow into ETFs. This is the point I am most optimistic about in the market.
Moreover, tomorrow ETH will welcome $2.27 billion in quarterly options expiry, with the biggest pain point at $2,200! Generally, this is bearish, but it’s uncertain how much it will drop.
Then, soletf
If successful, it will draw some liquidity from BTC. BTC may consolidate or drop.
Ideas. The range of 109,000~110,000 is a bearish area for shorts.
While going long, 103,000 is the best position. Otherwise, it may directly break through 110,000.
In terms of formation, currently above the channel, in the suppression area, this position is an opportunity
It is also the starting point for the next big wave!!!
