Evening Market Overview on March 12:

Since the last failed attempt to reach a new high, BTC has been consolidating in a high-level distribution zone. The current major support range is 94632-95695, and the resistance range is 98803-99601.

MicroStrategy has been continuously buying BTC, and this week they will meet with Microsoft and shareholders to discuss making BTC a strategic investment direction for the company; yesterday, the BTC ETF also saw a net inflow of 4340 contracts, with BlackRock purchasing 3470 contracts. Various signs indicate that BTC is still being accumulated by institutional investors; conversely, in the past couple of days, large holders have frequently sold BTC on major exchanges, which is normal. It is also normal for retail investors to buy low and sell high to gain price differences; for me, every pullback is an entry opportunity.

Yesterday, I profited from both the Butterfly pattern and the Gartley pattern; now the 4H chart shows another Gartley pattern, with point D at 94632 being the entry position for going long, take profit at 96689 and 97425, stop loss below the trend line at 93350, with a risk-reward ratio of about 1:2, which is worth entering; currently, I am at a slight loss.

In the last 24 hours, the total liquidation across the network reached 493 million, with long positions at 315 million USD and short positions at 177 million USD; the liquidation data shows that short positions are concentrated at the 96781-97937 range, and it is estimated that the market maker is more inclined to walk to the right and explode the short positions because the high leverage on long positions during the day is almost exhausted. The market maker is definitely looking to profit from both long and short positions.

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