11.12 Stable Continuous Short Selling, Large Orders Pressing at 91000, Be Careful!
Bitcoin's market value surpasses that of silver, becoming the world's eighth-largest asset, with Bitcoin's market value currently at $1.741 trillion and silver's market value at $1.735 trillion.
Is it safe to short this market? The logic of retracement or going long; after holding the spot, the issue is that there may be a small retracement in the short term. This market should not short Bitcoin; the best advice is to stay flat.
90,000 is the point for the big players to offload, the market has slightly changed, starting with offloading and entering. At this position, we will not consider exiting for now; let's first look at the retracement and make some altcoin long positions.
BTC Daily - 4-Hour Level Market Analysis #BNB0091
Bitcoin's market continues to surge, with a midnight retracement clearing leverage. The market keeps rising; the first point is to reiterate: do not short, do not short, there is no turning back once you short. In the larger market, focus on the selling pressure around 91000 and 92000 and the buying orders around 85000.
BTC Intraday Level Analysis
- The intraday logic of Bitcoin's price increase continues; it feels like continuous short selling. So what to do? Remain bullish and just pay attention to the pressure on the order book. Without observing the order book, it's recommended to mute group chats or live streams.
- 85000 serves as a bottom support level. The pressure above is around 90800, where there are many sell orders. Just focus on the market trend above; there is no rush for subsequent targets; a pullback means continuing to look bullish.
In this type of market, reduce leverage if you want to short; in this type of market, do not carelessly short, as it will hurt you. The trend hasn't reached the point to short, so there's no rush.
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