Giant whales are selling off again, how should BTC move?
Galaxy Digital continues to sell off 2850 BTC, with over 10,000 BTC transferred out in 8 hours! The giant whale chips are intensively flowing into exchanges, increasing short-term selling pressure.
BTC has fallen below the key support of 1170, currently around 1156, if the long and short positions at 1160 are lost, it may trigger 960 million USD in short position stop-losses and long position liquidations, heading straight for the 1143 gap!
Direct method: 116,000 is the last defense line, break it and stop! If it rebounds to the 1185-1192 range afterwards, one can reduce positions, but this stage is a strong resistance zone, personally I believe it is difficult to break through.
Bottom-fishers place limit orders at 1148, if it breaks 120,000, you can chase long for a new high!
Currently, BTC is volatile, the market is precarious, in a high-risk stage, if you want stability, don't bet on the direction, just wait for a breakout! That said, a pullback is also normal, after all, the bull market is not over yet, buy in batches, don't be afraid~ Don't know how to step in? Follow me, I'll take you on board!
