Bitcoin surged to the 99,200 line this morning, then began to consolidate at a high level. Is this a short pause to induce a sell-off, or a breakout facing resistance to induce a buy? At this moment, whether bullish or bearish, caution is necessary. Bulls should not be overly optimistic about rising prices, and definitely should not chase after increases. Bears should also not be too aggressive in thinking that the 100,000 threshold will inevitably see a pullback; it is essential to strictly employ stop-loss measures.

If we only look at the liquidation chart, the 100,255 line for Bitcoin is a densely packed liquidation position for short positions.