$BTC East Eight Zone Time, May 22nd, 11 AM. The hourly candlestick chart finally broke through 110,000, reaching the positions of 110,000-111,000-112,000 where I mentioned to consider placing short orders on May 20th. When the 15-minute candlestick first broke through the 110,000 mark, a long upper shadow clearly appeared, indicating that the selling pressure at this key resistance level suddenly intensified. However, once it breaks through, the bears can hardly hold this level, as there are no resistance levels above. But I still say, any rise that is not aimed at selling is nonsense.
For those shorting, it is indeed the highest position BTC has ever reached. You can consider going short, but remember to set stop losses and do not hold onto the position.
For those going long, since there are no resistance levels above, there is still a possibility for short-term longs. I want to say there is still a 10% upside potential. Do you believe it? Do not hold onto the position for short-term longs, because holding at high levels can lead you to 50,000; don't believe it? Just try it.
