"Bitcoin 107k life and death line! If the bulls hesitate again, they will face liquidation, and the market makers are hiding deadly traps. Tonight will be a decisive battle!
Bulls, don't hesitate! The current Bitcoin price is fluctuating between 107k and 108k, making people anxious. The small-scale price movement is disappointing, and in the short term, we need to focus on the lower levels, as that is the bulls' "liquidation risk point". The bears are eyeing this "fat piece" and are just waiting to strike.
Looking at the red box marked on the chart, there are new "bets" coming in. This time, the leverage added by the new bears is much harsher than the new bulls, clearly not having good intentions.
There is a key signal to pay attention to: the spot premium is still falling. This indicates that someone is selling a large amount of real spot assets while the bulls in the futures market are taking the bait. The funding rate has changed from negative back to zero, indicating that there are indeed some fearless bulls entering the market.
However, there is not much movement on the liquidation chart. This shows that the new bulls are quite savvy, using very low leverage, mostly long-term investors. Their liquidation price is far between 85k and 90k, and they are tough nuts to crack, making it nearly impossible to liquidate in the short term.
I clearly state my view: I still firmly believe in the long trend, so don’t let this small pullback scare you. However, in the short term, the risk of a pullback has indeed increased. If it really drops, the bears have clear targets, first at 105.5k, then at 103k.
Is there no chance for the bulls to turn the tables? Nonsense! The key for the bulls to turn the tables lies in the spot premium needing to rise, and the price must stabilize above 108k. If that can be achieved, the bears will be in trouble. First, the positions at 109.7k need to be liquidated, and then they can also take out those "old short positions" below 111.3k, which would be a huge profit.
Just now, the price made a "pin bar" at 106.5k, creating a "false breakdown"; this is the market makers playing psychological warfare. As a result, the short-term price will continue to grind within the broken range of 107k to 108k.
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