What's going on?

Last night's sell-off was indeed deep, fierce, and ruthless; anyone going long undoubtedly got stopped out. According to the statistical data, over 195,500 people were liquidated in the past 24 hours, with long positions losing $550 million, while short positions only lost $59.25 million; it was a targeted massacre against long positions!

In the face of such a sell-off, all K-lines and analysis seem powerless, and all we can say is, may the bulls rest in peace. If it were spot trading, there would indeed be no panic; every sell-off allows you to buy in at a lower cost. However, with contracts, it is essential to manage your position well; you can stop loss, but you must not get completely liquidated. From the liquidation chart, the bulls have really been cleaned out; it is said that bull markets like to deceive before the explosive rise, constantly whipping and cleaning, but if this continues and retail investors are all washed out, who else will come to play?

The long position defense for Bitcoin is at 96,000; this is the last line of defense and stubbornness, while Ethereum longs have already stopped out. At this point, there aren't many opinions in the market; it seems like it will just be a consolidation and fluctuation during the day, and after the U.S. stock market opens in the evening, things will get messy again. U.S. stocks fall, gold falls, A-shares fall, Bitcoin falls, Ethereum falls; they are all in the same situation! #市场调整策略