How to view slight pullbacks?
1. Yesterday, mainstream media extensively reported that BTC broke through 120,000, attracting many retail investors to enter the market. After a massive short squeeze, the funding rate and the spot-futures price difference have also increased significantly. There is a slight FOMO in sentiment, and the main players randomly suppress the price, starting a pullback.
2. This has no impact on spot and medium to long-term players; we are far from the peak, and it will only make those who chased the market yesterday uncomfortable.
3. As long as it does not drop below 106,600 in the short term, the pullback will be relatively shallow, with sideways fluctuations. If it drops below, there will be a deeper pullback, but it still won't effectively break below the daily EMA20 moving average.
