【Before Bitcoin hits $120,000, it may first induce a short squeeze to $92,000! Is this really the script for institutions?】
As the situation in the Middle East temporarily eases and market risk appetite warms up, $BTC surged to $108,000, but it currently faces dual resistance from technicals and sentiment. Various signs indicate: a short-term inducement to squeeze may be the 'last drop' before the main forces accumulate for a bull market.
Technical Analysis: Multiple signals point to a need for a pullback
The rising wedge pattern on the daily chart has broken down, and the trend is weakening;
RSI has retreated from high levels, MACD has broken below the zero line, and momentum divergence is clear;
Short-term support is looking towards the $92,000 range; a breakdown could trigger a rapid sell-off, but the structural bullish trend remains intact;
Strong support at the beginning of the year is firmly guarding around $76,000, and it remains a distribution area for large positions in the medium term.
Leverage Market: Short liquidation triggers fierce battle between bulls and bears
Current cumulative short leverage has reached $12 billion, primarily concentrated in the $112,000 area;
This move may be a 'squeeze-style accumulation'—the main players may intentionally suppress the price to induce retail investors to hand over cheap chips;
On-chain data shows that institutional funds are accelerating the replenishment of BTC positions through stock market leverage. Institutional Layout: Who is quietly hoarding coins
Including Strategy, Metaplanet, and other 251 institutions, holding over 3.47 million BTC;
Latest data shows: some large addresses are transferring BTC from exchanges, suspected to be initiating a 'lock-up + long-term deployment' mode.
Don't be misled by short-term fluctuations. If the $92,000 area confirms, BTC is expected to initiate a real main wave, targeting $120,000 or even higher!
