Today I saw the news that the King of Bhutan mentioned transferring 100 BTC to BN, and in the past half month, 350 BTC has already been transferred. So, should the potential short-term bullish profits start to sell off?
With the recent surge of the big pancake and various positive news, along with the spot market's rapid rise, an extreme short squeeze has unfolded.
For those who are severely overbought in the short term, and when bullish sentiment pushes prices up, it is often a time when crises are lurking. Risk control must always be the top priority.
The intraday increase is not large, and small levels show obvious signals of rising after stagnation. Some people have already started to sell off quietly. Currently, there is no recommendation to chase long positions, as it may easily lead to being a high-position buyer.
Control your hands, you may not make a big profit, but you will definitely lose less. Patiently wait for opportunities to buy on dips.
Upper levels: 118800/119600/122977
Lower levels: 115500/114220/112920