Recently, Bitcoin has retraced, and the number of short sellers and funds has obviously increased.
However, the market reaction has been extreme: when it dropped to $97,000, long positions liquidated $1.7 billion; when it rose to $112,000, short positions liquidated $2.2 billion.
Now both sides are at a stalemate at a key price level, and the signals for a trend change are becoming stronger. My personal opinion: in the short term, Bitcoin may oscillate repeatedly in the $97,000-$112,000 range.
But once it breaks through $112,000, it could trigger a new round of increases; if it falls below $97,000, it may further retrace. Current market sentiment is sensitive, so pay close attention to the performance at these two price levels and don’t blindly chase rises or panic sell.
If you are unsure and always chasing rises and panic selling, feel free to chat with me; like + leave a message, Tiger Brother will help you get on board.