A large number of orders are piling up at the 100,000 position and pausing briefly. What psychological and operational intentions does this reflect among market participants? Is there a standoff between bulls and bears here?

Crypto friends, currently, the 100,000 USD mark for Bitcoin is an important resistance level because it is a significant clearing point. This morning, it touched this position in the CME futures market, and there are a large number of orders accumulated at the 100,000 position, with the market staying here for 10 - 15 seconds.

📍92850 - 93000 is an important support level, where the trading volume is weak. The low point VWB serves as an important support and resistance level for the day, and the gap from yesterday also constitutes support. If it breaks below, it may indicate a reversal in the market.

🎯 In terms of trading strategy, short-term trading can short at 100,000, setting the stop loss above the breakout high, with the target being VWP and the endpoint area. It is recommended to use a 30-second chart for trading to control risk parameters. For long positions, wait for opportunities at the VWP position; if it can regain this level, one can go long to 100,000, placing the stop loss below the new low, and use small positions for quick in-and-out day trading, targeting 500 - 1000 USD.

Overall, Bitcoin shows an upward trend across multiple time frames, with the trading volume distribution presenting a p shape, indicating that the market may need to consolidate after a strong upward surge. Open interest has surpassed 1.3 billion, showing an increase in market participation.

✨ In the long term, it is recommended to use the 200-day moving average as an important reference, going long above the average and shorting below it. The cryptocurrency market is becoming more mature, with more typical technical patterns emerging, making the support and resistance functions of gap positions more pronounced.

I personally believe Bitcoin could reach 130,000; right now, it’s just a bit of adjustment. The current state is similar to the 55,000 - 74,000 range in January, and after this consolidation ends, it will likely continue to rise. It may need a pause and adjustment now. Everyone can consider these views, but investment should be cautious.