Bitcoin's chip mountain at 114,000 is about to crush the market🔥🔥
Once again, we are met with the familiar night of turmoil in the cryptocurrency world. $BTC and $ETH both fell sharply, directly filling the CME gap and hitting the key support zone. What's more troubling is: there are 1.62 million chips stacked above 114,000, and another 1.22 million between 116,000 and 118,000. The funds that bought in at high positions may seem like 'smart money' on the surface, but when emotional panic strikes, no one can stop them from running first.
Currently, 113,500 (weekly EMA7) and 112,800 (daily BOLL lower band) have become key technical defensive lines, and they happen to fall in the key buying zone I am focusing on: 112,000-113,800. If the price truly reaches this range, I will consider gradually increasing my positions.
Of course, if 112,000 is actively breached, it can only be understood as the main force choosing to retreat, which may lead this wave of the market into a correction phase earlier than expected. But based on the current structure, I still lean towards viewing this as a washout-style pullback, clearing floating chips and digesting chip pressure to pave the way for subsequent upward movement.
Don't rush to panic; the key range is approaching, and it is actually time for us to calmly plan and layout strategies.📉📈
