Today is Independence Day in the United States, equivalent to National Day, so the next three days will be a boring holiday mode...
Talking about the market:
At this position, I will not consider chasing long positions. I still hold a short position of 11k. If the market rises to around 112000, I personally prefer to add to my position.
For friends who want to go long, you can also choose to try a small position around 107k. Currently, the price has retraced to the 109000 area. The overall open interest in the contract market has decreased, and there is insufficient willingness to “chase high” from the funding side. The bullish momentum has clearly slowed down. Market data shows that the short-term liquidation zone for bears is concentrated between 110500-111650, but if the price falls below 108200, it will open up downward space, with an expected target around 107000.
For friends who have not entered short positions, you can choose to continue shorting at high positions as the market continues to rebound, keeping stop losses within a tolerance range of 3%. If the structure does not break, continue to maintain a bearish strategy; once it breaks down, high-probability short-term opportunities will arise.
