Currently, the U.S. labor market continues to remain strong, and the remarks of Federal Reserve Chairman Powell have triggered expectations of a U.S. interest rate cut this year. After breaking through historical highs, U.S. stocks and gold continue to soar. 🚀
After Bitcoin hit an all-time high of 69,000 on Tuesday, it fell rapidly. But brothers and sisters don’t need to worry too much, because the U.S. stock market and gold have also experienced repeated wash tests during the period of touching historical highs. Gold even tried three times before it could really break through. Therefore, it is only a matter of time before Bitcoin breaks through 69,000, but it will also experience some bottom tests. 😅
Since the violent Bitcoin wash on the night of March 5, more than 1 billion US dollars have been liquidated across the entire network, and then there was a V-shaped rebound.
03/06 Various KOL teachers said that they would intervene again in the evening, but nothing happened in the evening.
Moreover, the entire cryptocurrency market has warmed up in the past two days, as if people have completely forgotten the fear of market makers’ manipulation.
But often when you let your guard down is the time when you really get in trouble.
First, from the liquidation heat map, we can see that within a short period of time after the 03/06 spike, there were some long-side liquidations below 63,000, with an estimated total amount of several hundred million US dollars, proving that this liquidation was not a complete cleanup.
Furthermore, from the four-hour chart of Bitcoin, it can be seen that the trading volume of the 03/05 wash was less than the trading volume of the 02/29 wash.
But the price fluctuations are larger. This means that the market will become more volatile in the coming months, and the number of spikes and washes will become more and more frequent. (Because it does not take an excessive amount of BTC to have a huge impact on the price)
So, the dawn is just ahead, but be careful of the traps under your feet.
Thank you very much to all the brothers and sisters who have read this. I hope this sharing is helpful to you.
This is my first time sharing my views on Binance Square, and I will continue to write about it in the future.
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