$BTC BTC: Is the double kill of long and short positions getting closer?!!
The day before yesterday, I mentioned that #BTC 96000 is a significant hurdle, and it has not been able to surpass it, but it also cannot drop. Clearly, there is a strong force supporting it. Here’s my latest view on the next steps:
1. From the estimated liquidation perspective: An upward movement to 97500 could trigger 1.5 billion liquidation, while a downward movement to 86000 could trigger 3.2 billion liquidation. It seems more favorable to go down, but I can't see it dropping that far; at most, it might return to around 91000, where it could also trigger 1.5 billion liquidation, leading to a double kill of long and short positions.
2. From the chip structure perspective: There has been no change in the past few days; there is a force continuously supporting BTC around 94000, which is a washout because there are too many trapped positions above 96000. However, merely washing out is not enough; without severe fluctuations, the trapped positions above will not be willing to cut losses.