Hey Square Fam! š
Bitcoin recently tumbled to around $102,000, driven by a mix of macro concerns, technical retracement, and liquidation pressureāclassic ingredients for a short-term pullback . Letās explore what this means and how to stay ahead!
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š Whatās Behind the Drop?
Macroeconomic uncertainty: Markets are jittery ahead of the upcoming CPI data and geopolitical twists .
Technical retracement: BTC has fallen back, hitting its recent support zone between $100Kā$102K .
Liquidation pressure: Whales clearing leveraged positions added fuel to the fire .
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š Key Price Zones to Watch
Zone Description
$100Kā$102K Major supportāif it holds, we could bounce back š„
$95Kā$98K Next downside target if support gives way
$110Kā$112K Mid-term rebound zone if sentiment stabilizes
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āļø Strategies from Our Square Family
Notable Square creator Wettasi posted a clear short setup with:
Entry: $101.2Kā$102K
Resistance: $102.5K, $103.2K
Targets: $100.5K ā $99.8K ā $98.5K
SL: $103.5K
Practical, wellāstructured, and risk-awareāin true Square style!
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š§ What This Means
This dip feels more like healthy consolidation than the start of a fresh bear trendāespecially if $100K support holds. That said, a break below might open the door to $95Kā$98K .
Potential bounce scenario: If global conditions ease, BTC could test $110Kā$112K again š”ļø.
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ā Square-style Tips
1. Stay Honest & Respectful: No hype. Just clear, actionable analysis.
2. Share Quality Insights: Balance your viewādownsides and upsides.
3. Use Risk Management: Always set stop-losses and control trade size.
4. Engage Authentically: Ask questions and comment respectfullyāthis is a learning community!
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ā Final Thoughts
Is this the end of the rally? Not necessarilyāit may just be cleansing weak hands.
Watch $100K support: If it holds, we might be setting up the next leg up.
Plan your trades: Whether long or short, define your entry, SL, TP, and position size.
Letās keep the convo goingādrop your thoughts, questions, risk setups below š
Stay smart, stay disciplined, and letās navigate this together, Square Family šāØ
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*Disclaimer: This is for educational purposes onlyānot financial advice.*