A few days ago I felt bearish momentum was stronger. After observing over these past few days, Bitcoin has been refusing to pull back, like it’s “taking care of” the shorts. Spot is inserting upwards, but the futures aren’t—this is a bit strange. In theory, futures should spike up to clear out the shorts first, and then a pullback downward would begin. But that’s not what’s happening right now.
So my guess is: spot is sweeping the sell wall to open a channel for a rapid, sharp rally later.
Everyone has already rehearsed what to do if Bitcoin falls—so now, in your position, you would all be looking to buy. But will the market’s movement match everyone’s intentions?
So then, we need to rehearse what to do if it goes up. If at this moment Bitcoin breaks through 87,000 again, should we chase it? If it breaks through 92,000 and runs straight to 95, 102,000?
If Bitcoin refuses to pull back and makes another attempt up at 87,000, then it will very likely break—provided it holds above 85,000. Right now it’s at 85,100. If it breaks and holds, then it would target around 83,000–85,000 where shorts could get squeezed into liquidation. The liquidation points correspond to 100x, 50x, 20x, 10x, and 5x leverage. You can use these levels as references: 87.5, 89.7, 92, 99.7, 102 (thousand).
So my guess is: spot is sweeping the sell wall to open a channel for a rapid, sharp rally later.
Everyone has already rehearsed what to do if Bitcoin falls—so now, in your position, you would all be looking to buy. But will the market’s movement match everyone’s intentions?
So then, we need to rehearse what to do if it goes up. If at this moment Bitcoin breaks through 87,000 again, should we chase it? If it breaks through 92,000 and runs straight to 95, 102,000?
If Bitcoin refuses to pull back and makes another attempt up at 87,000, then it will very likely break—provided it holds above 85,000. Right now it’s at 85,100. If it breaks and holds, then it would target around 83,000–85,000 where shorts could get squeezed into liquidation. The liquidation points correspond to 100x, 50x, 20x, 10x, and 5x leverage. You can use these levels as references: 87.5, 89.7, 92, 99.7, 102 (thousand).