Severe selling pressure appeared at position 12.2 for $BTC
The daily line closed with a long upper shadow candle, indicating that the adjustment has been completed as seen from the downward pin since the morning. It will first rebound to around 119800 and then consolidate while waiting for the CPI data to be released tonight.
It is expected to test the previous high of 123200 again. Before the market ends, try to focus on buying low. While there is significant selling pressure, buying interest is also strong. This situation is suitable for playing with some swing trades (for those with good skills).
Now the bears have gotten smart, raising the strong liquidation price for the three-day shorts to the position of 123000, with over 175 million in liquidation. The liquidation price for the bulls has been lowered to 116200, with 211 million.
Looking at it this way, it seems that there are still more people shorting.....