BTC: 96000 faced resistance, 91000 in sight?
The day before yesterday, I publicly stated that #BTC 96000 is a significant resistance level. There are many trapped positions here, and as expected, the highest it dared to go was only 95769, not breaking above 96000. Now, let me share my latest thoughts:
1. Based on liquidation estimates: If BTC is to break through 96000, it can explode 1.15 billion up to 97500, and 1.3 billion down to 91000. If it goes further down to 82000, it can explode 4.3 billion. From the perspective of contracts, a downward movement would be better.
2. From the chip structure perspective: The chips trapped above 96000 are no joke; they definitely didn’t dare to release them the first time. There is strong support at 88000, but in the short term, I think the probability of returning to 91000 is higher, and the downward movement won’t be too deep.
In summary, considering that many negative factors have recently landed and eased, along with expectations of interest rate cuts in May-June, the market is clearly in a bullish trend. The previous bearish trend has been broken. However, recently, altcoins have surged too much, generally averaging 50%-200%. BTC has also rebounded significantly. With rises come falls, and I think there may be a relatively widespread major correction within the next three days, with BTC seeing 91000, while many low-quality altcoins may experience a general correction of 20%-50%. For those who missed the previous wave, you might consider replenishing when BTC returns to 91000.
Lastly, I will frequently share my views and logic at 清水的小天地.
