The long-term weekly indicator has reached the extreme position of around 25,000, which is in place in the short term. But now it is officially announced that Bitcoin has entered the era of high trading. It is still early for Cancun to upgrade in the second half of the year, but OP and other currencies are too strong, and the future is very certain.
The only good thing is that the stimulating market situation means that there will still be a market in the second half of the year. If the market continues to fall like this without stimulation, the second half of the year will be dangerous. Therefore, this wave of sharp declines has repeatedly verified that there is still a market in the second half of the year.
What can be done now is to buy some spot goods, follow the live broadcast to make short-term firm orders during the day, and wait for the market to be tested again.
After the weekly line closes at 27500, it can be considered strong and the market will rebound in the near future.
If it fails to reach 28,200 in the near future, it will be seen as a second test of the bottom, and if it falls below 25,800, it will be seen as a continued weakening of the market.
The increase in September may be huge. This month, we will focus on the trend of Bitcoin. It is likely to fluctuate. Don’t make left-side orders now. Follow the live broadcast and wait for the direction.
Bitcoin market maker liquidation chart: Today's Bitcoin liquidation range is relatively wide, with short liquidations reaching as high as 2 billion US dollars at the upper 29,000 position, and the lower 25,000 position continuing to accumulate chips close to the pain point of 700 million US dollars.
Short order liquidation:
The short position liquidates 250 million chips at the pain point of 26850 above, and the probability of liquidation is relatively high when it goes up about 500 points.
Long order liquidation:
If long positions are liquidated to around 25,900 below, 400 million chips can be liquidated. The probability of a sharp pullback after liquidating long positions by 500 points downward is not high.
Liquidation chart summary: Under the current strong control situation, the liquidation chart will be invalid in the short term and the market is extremely uncertain.
Bitcoin market analysis:
The intraday market is full of uncertainties. Observing the closing situation over the weekend and the K-line trend at noon today, a second test is still possible if it does not reach 27500-28200.
Now any order is mainly based on the right side, and the left side is invalid. However, the strength of OP and other Cancun upgraded TOKENs proves that there is still a market for Cancun upgrade in the second half of the year. At this time, you can choose to divide the warehouse and slowly invest in Bitcoin or Cancun's high-certainty projects.