This drop has wiped out more than 5 billion long positions (including those who were scared away). The weekend should see a volatile trend. How much fuel have you contributed?

The Bitcoin price has reached the expected level above the lower long liquidity gap, with a minimum price of 103k, and it has indeed moved through a phase of long liquidation. Due to the gap, it is highly likely to oscillate with the weekend's liquidity.

Due to the rapid increase in short liquidity above, I prioritize looking for a retracement liquidation here, rather than believing it will directly turn into a large-scale short trend;

The reason is simple: there has been too much short liquidity added after the new high, and the current price has not yet fallen below 101k to complete the major structure's destruction. Therefore, it is more likely to oscillate within a new range between 101k and 106.6k.

After the oscillation, it is highly likely to move upwards to test the high point a second time. Whether it can break the new high again is uncertain, but at least a right shoulder structure will emerge. If the right shoulder stays flat for a long time or doesn't break the new high, there will be a large-scale shift to a bearish expectation, and we'll have to observe as it progresses.

The current expectation of oscillation is likely to last about a week. Even if there is a rebound, it will most likely be below 106.6k.