6.7 BTC plummeted to 100,000 before a rebound. Is this a bottom-buying signal or a bait-and-switch behavior?
From the data, although BTC nearly dropped below 100,000 USD, the turnover generated is not significant. Only the investors who are at a loss seem to be nervous, resulting in a larger turnover, while earlier investors are still in a wait-and-see mode without obvious signs of panic. As the quarrel between Trump and Musk continues to escalate, market sentiment is worsening, and it is estimated that the decline will only stop once the argument ends. It is uncertain whether the two will reconcile. Although the price is not particularly friendly, the support between 93,000 USD and 98,000 USD remains very strong, and there are no signs of panic among this group of investors. This is why we often say that most investors between 100,000 USD and 105,000 USD are short-term investors who are more sensitive to price.
The weekly report also explains that the current price maintenance is not due to an increase in purchasing power, but rather a decrease in selling volume. If negative news increases selling and purchasing power does not rise accordingly, it will lead to the current situation. However, this does not have a fundamental impact on BTC at the moment; it is more about the emotional venting of U.S. stock investors.
Operational Advice:
Short BTC at 104,800-105,300, target around 102,000-98,000. Defense at 106,500.
Short ETH at 2,510-2,550, target around 2,400-2,300. Defense at 2,600.
