February 22, 2023

——Bitcoin just jumped to $98,500 in the morning and by the afternoon, it plummeted into the pit of $95,000. Some analysts confidently stated, "Once it breaks $98,800, it can touch $100,000!" However, the price barely reached $98,725 before it "plopped" down, and the bears laughed in unison, "What happened to the bull market?"

——"Even more outrageous, a certain mysterious big shot precisely crashed the market at 3 AM, directly smashing the price from $97,600 down to $96,500. The community collectively broke down: 'This operation deserves a 101 score, I’m not afraid you’ll get arrogant with one extra point!'

——The technical analysis shows that Bitcoin's 4-hour K-line has formed an M-shaped double top, retracing to around $94,856, with support at $94,691-$93,403, suggesting to short on highs. The liquidity stimulus from the US stock market's pullback has caused BTC to rebound, but the daily resistance level of $100,000 is just around the corner. If the breakout fails, it may test the bottom again at $90,000.