Why did Bitcoin drop? $BTC #加密市场回调

Yesterday, Cat Brother publicly mentioned going short around 118800, but unfortunately, almost missed the opportunity [sweat]

Back to today's perspective, the small range fluctuations over the weekend essentially reflect a lack of liquidity. The 4-hour EMA20's inability to test shows that the support strength is weak. In simple terms, no one is entering the market, so the price can't hold up. (After all, it's still the weekend when ETFs can't escape) Two days without new liquidity entering have led to a risk-hedging demand from the big whales in the market. So this morning's drop is essentially a result of the surge in risk-hedging demand.

During the day, the short-term support can be referenced around 114200, and the short-term resistance is around 117000. (If it completely breaks below 113800, it means this round of retracement is heading towards around 109700)

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