Yesterday I mentioned that after #BTC hits 96000, there will be a significant correction. It peaked close to 95000 before starting to correct, so let me update my latest views:
1. From the estimated liquidation perspective: going up to 96000 could trigger 700 million, while going down to 88000 could trigger 1.4 billion. If it drops to 82000, it could trigger 3.6 billion. From this angle, it’s very likely that after another attempt to hit 96000, it will drop back down to 90000 or 88000.
2. From the chip structure perspective: the resistance at 96000 is very strong, it cannot be broken through easily in one go. The support at 88000 is also very strong. I believe that in the next half month, it might oscillate repeatedly between 88000 and 96000, and neither level will be easily broken.
