Tonight's plunge is not exaggerated in terms of magnitude. Bitcoin has only recovered the gains of the previous few days. It once again held the position of 40,000 and rebounded strongly. From the perspective of the daily line, it is still a normal shock.

The price of Shanzhai has been relatively large, but before that, Shanzhai has already experienced an exaggerated surge. If it were not for chasing bulls at a high level, even the price of Shanzhai is not very low at present, and it is not at a suitable position for a heavy position.

The liquidation volume is not small, and the overall situation is still based on the current atmosphere of long-term bullishness. There is one data that needs to be paid attention to here. The stop loss level of a large number of low-multiple orders is 39,000-40,000. These are large positions and low-multiple bets. If it breaks through 48,000, the position for building a position is also relatively good. The current retracement fluctuations cannot be eliminated. Once it continues to explore new lows, this part of the order will be damaged, and then it will be a good opportunity to start placing spot positions.

It’s worth buying if the contract dies and the spot price crashes.