Simply put: $BTC
During yesterday’s BTC突破 85K, the market saw about $750 million in positions liquidated, of which around $648 million were short positions
That’s also why the price surged so fast
If this rally was driven by short liquidations, then breaking to new highs again to 90K would require more long positions buying in
Unless the price pulls back or ranges sideways at high levels to push up OI and increase buy-side demand.
This is not a warning to short
In the short term, watch around 84.6k for signs of a bounce and then look to go long again.
In terms of the trend: on the daily chart, below the 95–97K range, for now I’m only looking for a rebound. But the rebound profits have been very substantial, and it has also pulled some altcoins along—those who bravely bought the dip have already started to make money.
During yesterday’s BTC突破 85K, the market saw about $750 million in positions liquidated, of which around $648 million were short positions
That’s also why the price surged so fast
If this rally was driven by short liquidations, then breaking to new highs again to 90K would require more long positions buying in
Unless the price pulls back or ranges sideways at high levels to push up OI and increase buy-side demand.
This is not a warning to short
In the short term, watch around 84.6k for signs of a bounce and then look to go long again.
In terms of the trend: on the daily chart, below the 95–97K range, for now I’m only looking for a rebound. But the rebound profits have been very substantial, and it has also pulled some altcoins along—those who bravely bought the dip have already started to make money.
