I have already taken profit on half of this long position at 118700, and the other half is still held. I have moved the stop loss to the breakeven point📉 I am considering entering a short position again. If it breaks below 116800, I will still consider entering a short position; that’s correct, I will only enter if it breaks below. If it doesn't break, then it will definitely be a large upward movement, and I will continue to hold the long position. Friends who are gamblers, pay close attention to this condition: enter a short position if it breaks below 116800, with a stop loss at the new high. If it doesn’t break, it is still a bullish trend, and I will continue to hold the long position. If it breaks below 116800, I will enter a short position again. After all, the profit from the long position is sufficient, so there is still an opportunity to try a short position here.
The US BTC spot ETF saw a net inflow of 226.7 million dollars yesterday, ending three days of net outflow. BlackRock IBIT entered 32.5 million, Fidelity FBTC exceeded 100 million.
The bleeding has finally stopped, BTC rebounded from a low, but whales are moving. Galaxy transferred 3,420 BTC to CEX, worth 395 million dollars, which may signal selling pressure.
I believe this wave of inflow is institutions bottom-fishing. Combined with ETH ETF also aggressively attracting 230 million, the sentiment in the crypto market is warming up, but there were liquidations of 673 million, mainly in long positions, so caution is advised.
Next, pay attention to the liquidation intensity. If BTC breaks 116,000, long position liquidations could reach 1 billion dollars. It is recommended to hold light positions and wait for stability.