$BTC lost 113000 level will trigger a countdown for over 1 billion long liquidations!
From the perspective of volume and price relationship, the volume decreased when it surged to around 124500 yesterday, which is a sign of a false breakout. Now the 4-hour RSI indicator has shown a bearish divergence, making the bearish logic more evident.
Also, note that there is a gap in CME futures between 118200 and 119100 USD, and after this gap is filled, it may fall even faster.
If BTC falls below 113000, it will trigger forced liquidations of over 1 billion USD in long positions.
Personally, I think if the rebound strength in the short term is not sufficient, it is very likely to head towards around 101000 USD. But it also depends on the change in market sentiment; if the critical support level of 113000 can be maintained, this downside target may not be reached.
However, whether it can be pursued in the short term still depends on market sentiment and news. If you want the latest trading strategies, you can continue to follow Li Ge, and I will announce the next round of bull market strategies!
