Let me briefly explain the short-term resistance point above $BTC based on the large order analysis chart, the reasons behind it, and the main order points of the market whales, as well as my subsequent views:
Currently, from the large order chart, it can be seen that the main selling orders are concentrated in the range of 99000—100000, with an amount as high as 120 million USD! There is some selling pressure in this range, and if the price pushes into this range, one can consider trying to short with a light position! Moreover, this is just the main force; many retail investors are not included in the statistics! It is evident that the resistance at this point is quite significant!
Additionally, from my observations in the chart, compared to the market's hype of 150000 USD for BTC, the major order points from the big players are concentrated around the points of 100000, 110000, and 120000, with 100000 having the most orders, indicating that a considerable number of people are not optimistic about BTC's future surge!
However, from my personal perspective, for BTC to surge to 150000, there are many prerequisites—successful establishment of the country and clear governance, the country fulfilling its promises to provide favorable policies for BTC, and the US lowering interest rates and providing liquidity... Based on my years of experience in the cryptocurrency market, I am very optimistic about BTC's future. After all, the US has significant national debt, and this year, the effects of harvesting wealth from other countries have not been very effective. There is a strong need for a new reservoir to harvest global wealth, and BTC is an excellent target. Moreover, referring to the seven years after the approval of the gold ETF, there was basically a continuous bull market for seven years, and I believe BTC will not be any worse!
After all, in my view, the blockchain and cryptocurrency market is currently like a young person just entering adulthood, it is still in its early stages, but it has not yet reached its peak!
