BTC Breaks Historical High

How Many Short Positions Were Liquidated

This morning, BTC broke its historical high, and it’s estimated that many opened short positions around 110,000, resulting in significant losses for them. Many people thought that BTC wouldn't easily break this resistance level and aggressively opened short positions, but the risk here is quite high!

When I was live streaming last night, I told everyone that opening short positions at the 110,000 level was actually unsafe. Too many people wanted to short at this level because they believed there would be a correction after breaking this resistance or thought it wouldn't break at all, or doubted its ability to break. Therefore, many stop-loss orders were also set around 110,000. It’s precisely because so many people think and act this way that BTC broke through 110,000 with no resistance at all. Today, BTC even reached around 111,800, not only breaking the historical high but also gaining an additional 1,800 USD from the previous level. Trading is always counterintuitive; only a small number of people can get it right.

In fact, it’s okay to be wrong because this market has nothing to do with technical analysis anymore; it’s entirely about where the bears are concentrated. With such rapid changes, who can guarantee making profits? Even the major trader Liangxi is in the red again and has entered debt mode. Those who are better than you are also losing money, so what are you worried about? I also took a small position to test the waters yesterday and lost 100 USD before I ran away because I realized the market conditions were off. Although I didn't catch BTC's historical high, I also didn't lose money. Sometimes, staying out of the market and waiting is a skill.