Bitcoin is under immense pressure from large short positions! 115,000 is the lifeline for the bulls!
Bitcoin is currently stuck around $111,000, with a heavy resistance zone at $114,900 - $115,100 above!
This position is packed with previous trapped positions and short orders, with 4.44% of the trading volume concentrated here, and the long-short ratio has dropped to 0.77 (shorts are clearly dominant).
Don't be fooled by the small golden cross signal on the 4-hour chart, but the moving averages are firmly pressing down on the market, and the engulfing pattern + top formation further expose the weakness of the bulls!
The main force's chips show that around $114,900 there is a massive selling pressure wall; if it can't break through, it will have to drop back to the $111,000 support.
Want to play the breakout? Keep a close watch on the trading volume—without explosive volume increases, it's all just a façade!
Still unsure how to operate in this market? Follow me, I'll provide the strategy, but execution is up to you! There are only so many positions, act fast or you'll miss out!
