$BTC

Today, let's talk about MicroStrategy. It has already skyrocketed, not only surpassing the high point of 112K on May 23, but also directly exceeding the second high point of 110.6K on June 9. At this rate, it seems to be heading for a new high.

Now, regarding the key points, during this drop from 112K, the open interest has been decreasing synchronously. I haven't seen bears frantically adding positions and pushing open interest up to crash the market, nor does it resemble a false breakout typical of a top divergence. So whether this is a washout or a real drop, the current short-term market structure is not clear.

The reason it’s stuck at 110.3K is that there are a bunch of contract shorts in both coin-based and USDT-based positions ahead, along with large spot orders on Coinbase blocking the way. The bulls haven’t been able to bite, and for the past couple of days, it's been stuck in a sideways move.

But the key point is that the structure hasn't broken! The bulls are not dead! Even if you are a bear, don’t impulsively short; you need to operate based on 110.3K. Once it truly breaks through, you need to reverse and go all in, or you’ll be left waiting to be squeezed. The market may seem calm right now, but in reality, it has a hint of a charge coming.

Follow Nini for daily updates on exciting content. #美股代币化 #加密市场回调