The #亚利桑那比特币储备 Cryptocurrency Reserve Act has been passed, and a battle of long and short positions is about to kick off! Evening thoughts from Auntie Bitcoin on 4.29

The BTC Strategic Reserve Act in Arizona has been passed, making it the first state to recognize the status of cryptocurrency assets. Although the purchasing power of one state is not enough to influence price trends, the symbolic significance outweighs the practical significance. Where there is a first, there will be a second!

The liquidation map shows that if the price breaks through 97,500, nearly $1.5 billion in short positions will be liquidated, and if it falls below $90,000, over $2 billion in long positions will be liquidated! The competition between long and short positions is fierce!

Today, a short position strategy was suggested and a small profit was taken. The Cryptocurrency Reserve Act has made me doubt whether the price will rise again. Although there is a strong demand for a technical pullback, the market is being firmly supported, and it is not falling. Bitcoin has been consolidating around 95 throughout the day, while Ethereum is consolidating above 1,800! For tonight's operations, Conan still suggests focusing on short positions at high levels, with a pullback for long positions as a supplement! Key resistance levels to watch are 95,500, 96,000, 97,000, 98,000, and 99,500, while support levels to watch are 92,700, 91,600, 90,500, 89,000, and 87,000.