Understanding the historic battle of 100K and its developments.
The psychological resistance of 100k is the last stronghold of the sellers (bears), who have erected a barrier to contain the advance of prices.
The buyers (bulls) have been gaining ground, but upon reaching this strategic position, they faced strong opposition. After a brief retreat, they reorganized their forces for a decisive attack.
The bears, confident that the bulls would give up, reinforced their positions with leveraged operations, financed by brokers that lend resources using the assets of the interested parties themselves as collateral.
This high leverage created a liquidation zone (yellow region), where leveraged positions may be forced to close. Realizing the profit potential, the brokers began to momentarily support the advance of the bulls.
The bulls decimated the 100k region very soon...
