Market code decryption
Extreme meat grinder market
• Price stuck at 108,865 playing 'ghost hitting the wall', with 12 consecutive trades fluctuating within $0.1 (see intraday data), this flat trend, even flatter than an electrocardiogram, is a typical 'main force testing the market' signal.
• Above 108,867 are piled up sell orders (with a limit price difference of only 0.1U), below at 108,800 lies the liquidation minefield, definitely a 'blood on the knife edge' structure.
2. Fibonacci life and death game
• Monthly line 51% (108,092) and quarterly line 50% (107,747) form a 'double bottom firewall'—if this level breaks, it will trigger quant programs to crash the market (refer to the similar pattern in June that saw a daily drop of 8%).
• Daily line 100% position 110,484 has become the 'faith lighthouse' for bulls, but last night BlackRock ETF fund inflows suddenly decreased by 30%, raising doubts about the momentum to break through.
3. Underlying currents in the news (as of noon today)
• ✅ Good news: 43,000 BTC transferred by the German government seems to have found an off-market buyer (on-chain tracking shows it to a Coinbase custodial address), pressure from selling is temporarily alleviated.
• ⚠️ Bad news: Mt. Gox compensation Bitcoin moved 26,000 this morning, expectations for creditors cashing out are rising.

II. Practical views on convergence
Now it's a psychological war, the main force is waiting for retail investors to make mistakes.
• Case evidence: current narrow fluctuations replicate the 'death compression' market in November 2023—back then, after a 56-hour horizontal trend, it surged 12%, but the liquidation volume was three times that before the increase (data source: Bybit).
• Personal strategy:
◦ Use 5% of your position to place breakout orders: long at 108,900 / short at 108,790 (set stop loss at 50U to prevent spikes).
◦ Never hold a position: in this market, sweeping stop losses is the norm, remember 'the money lost in being swept 10 times is 90% less than being liquidated once'
III. Life and death tribulation tonight
Focus points for monitoring
• 22:00 New York opening: if US tech stocks plummet (Tesla down 1.2% pre-market), it may trigger a BTC crash.
• Liquidation heat map: there is a concentration of $280 million long stop losses at 108,650, a definite 'fat sheep slaughtering area'
• Whale script: beware of the 'false breakout' trap—first pull the market to trigger FOMO, then reverse and break support (refer to the $2000 drop on July 2nd in 15 minutes).
Remember: the longer the horizontal trend, the rustier the butcher's knife—yet a rusty knife cuts deeper! Now it's either empty hands watching the show, or welding stop losses to the keyboard. Want to know when the main force will flip the table? Tonight at 22:00, come to my live room to watch the 'liquidation button' light up!
In a chaotic market, hold tight to the big leg! Focus on the convergence, convergence is that golden big leg! Just cling to the leg of the ambitious madman!