$BTC 12 Wan Daguang is just around the corner! After 90,000 people were liquidated, is the opportunity here?
Last night, the cryptocurrency market plummeted, with 1.6 billion RMB in market value evaporating and over 90,000 people liquidated. Bitcoin fluctuated between 118,197 and 119,655 USD in the early morning, while Ethereum fluctuated between 2,938 and 3,019 USD, with neither breaking through the key range.
For Bitcoin, key levels to watch are 119,200 USD and 116,411 USD: if it breaks through 119,200, it is likely to surge to 120,000; if it continues to be suppressed, it may test the support levels of 113,500-112,000 or 109,500 USD in the evening. For Ethereum, the key level is 2,988 USD, similar to Bitcoin's 119,200, and we need to wait for Bitcoin's breakout signal before making a judgment. Ethereum has support at 2,851 USD, with further support levels at 2,788-2,719 USD.
Today is Monday, during the weekly alternating period, and volatility may increase. It is recommended to observe during the day and wait for the evening to see repeated testing of support and resistance before taking action, focusing on directional choice and avoiding blind chasing of highs and panic selling.
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