This morning's ten thousand dollar plunge was completely caused by a chain reaction of forced liquidations, clearing out short positions with over 100,000 in volume!!!
In the evening, it turned around to attack the long positions; there were simply too many long positions yesterday, leading to a direct liquidation of 700 million. However, after this bloodbath, Bitcoin can once again move healthily upwards.
After clearing out the longs, the major cryptocurrency should continue to rise healthily. The current situation is very similar to the breakout above 69,000 in March this year. That plunge was more significant than what we see now, so the range between 69,000 and 73,000 has about a 5-point amplitude. If we conservatively estimate, it should at least break through 11 without any problem.
However, calculating like this is too simplistic and lacks logic. I expect that there will be a phase of historical peaks at over 120,000.
The second major cryptocurrency performed decently today; I believe it should have no problem breaking the yearly high of 4,100 this month. Whether this bull market can break 5,000 to set a new historical high remains a question mark????
SOL also experienced a spike but did not break below 220, so 220 has proven to be very resilient. As for whether it can go up now, it still depends on the major cryptocurrency, because this year the SEC announced that all ETF applications will be rejected under the current zF environment. So the stage for SOL will only be set after the old SEC dogs step down.
Recently, the THETA that was being stealthily accumulated has also doubled; in a bull market, the most important thing is to have patience!!!
Altcoins to watch: pnut, doge, pepe, floki.
Don't miss opportunities in the bull market; follow Lao Qi and prepare for the upcoming big market!!!
If you want to double your investments, want to make big money 💴, or want to break even, then look for Lao Qi!!
Lao Qi will help you achieve double returns in the bull market; it all depends on whether you're following the right person!!
Leave a comment below with 111 to get on board!!!
#新任SEC主席 #比特币回升至97K