BTC: Are you stuck in a short position? Don't worry, a drop to 98000 is coming soon!
Three days ago, I accurately predicted the low of 94000 at #BTC 93000 and clearly stated that a rebound to 100000 would be achieved. Last night it peaked at 104000. Here’s the latest perspective from Ma Qian Pao on how things will unfold:
1. From the liquidation estimate: upward to 106000 can only liquidate 300 million, while downward to 98000 can liquidate 950 million. This difference is quite significant, and a short-term surge has been too aggressive; a pullback would be healthier.
2. From the chip structure: upward to 105000-106000 perfectly overlaps with the liquidation estimate, forming dual pressure. Downward, we first look at the significant support level of 100000. Normally, such a high-level integer barrier is not easy to overcome all at once, but it has strongly held above this level for a long time since last night. Therefore, this position will become a strong support. Additionally, if there is negative news, the lowest support at 97000-98000 is very strong; I also see 98000 as the lowest in the short term.
In summary, my script is that it may rise to 105000 to bait some traders, but then it will pull back. I have also started to short the junk altcoins gradually. First watch the integer level of 100000; if it can't hold, then the lowest could be 98000. Those stuck in short positions should exit when possible. When trading, do not be overly attached; respect the market. If you haven’t entered yet, wait for the pullback before getting in; don’t chase the rise. Today, I'm here to pour cold water on things.😀
Lastly, for chat, join 清水的小天地.
