After Bitcoin broke 100,000, it experienced a short-term sharp drop of 10,000 points. Does this indicate a major correction or is it a need to clear contracts?
Long time no see, it has been over two months since the last update.
The RWA concept, Hong Kong concept, and some memes, especially SLERF, mentioned before the hiatus.
Almost all have seen a 3-4 times increase in value.
A few days ago, Bitcoin broke through 100,000 USD after a long daily consolidation.
Soon after, there was a sharp short-term drop to around 89,000.
Despite the dual positive influence of unemployment data and non-farm payrolls, it did not break the new high.
Instead, it formed a resistance level.
Also, from today's cryptocurrency market performance, meme coins are in the first echelon of the bull market, after being handed over by so-called value coins and VC coins, with sector rotation.
Some coins have already begun their second wave of market trends.
Moreover, the first wave increase of value coins is basically in place.
In summary, Bitcoin may see a pullback of around 10,000 points tonight.
After this pullback, observe strong meme coins for a second wave layout.
Specific operation: Personally, I will short Bitcoin around 100,400, with take profit at 91,600 and stop loss set at about 1,000 points.
This will also be my first short position during this bull market since September.
Do not short in a bull market. Keep your hands steady, but under clear trend indications, exchanging small losses for larger profit potential is reasonable.
The premise is that if you realize your judgment is wrong, you must stop loss in time. Never hold onto losing positions!!
$ETH and $SOL are relatively strong, so I do not recommend shorting.
This view is a personal subjective opinion and is for reference only.
Lastly, we still welcome the classic segment, placing a poll at the bottom of the article. Let's see everyone's views on the current market trend.
Data will be revealed tomorrow.