$BTC
Chase or not?
It is highly likely to enter a sideways consolidation
Firstly, the dense trading area from 11.2 to 11.4 has already been eliminated
There are few funds willing to continue shorting, and the market lacks the “fuel” to push prices down, only able to maintain a sideways trend
However, if most funds shift to bottom-fishing and cluster to go long, once liquidation is triggered, the selling pressure faced by the bulls will also be quite intense.
In the morning, the market slightly corrected, showing a subtle tug-of-war between bulls and bears.
From the movements of the whales, among the top ten whale addresses
Five have chosen to go long, while the other five maintain a short position
But overall, the bears are more aggressive in their actions—not only do they hold larger positions, but the margin they invest is also significantly more than that of the bulls.
This stage tests patience more; over-trading can easily lead to a passive position
If Bitcoin remains sideways without falling, opportunities for altcoins will arise
Stay tuned to Hashni, continuously sharing about altcoins～