Hello everyone,

Can BTC continue to reach new highs?

We still need to pay attention to tonight's US CPI data.

Data Analysis:

After last night's market correction, a wave of long positions were liquidated. Currently, the liquidation map's data indicates that the high leverage long-short ratio will be adjusted again, not as severely imbalanced as yesterday. Overall, there are still more long positions than short positions. If the market corrects to around 85,000, approximately $1.15 billion will be facing liquidation. Conversely, if the market is around 91,000, short positions will be facing about $800 million in liquidation.

The data also indicates that the market still has significant fluctuations, which only increases the risk of both long and short explosions.

Daily Analysis:

From the current market trend, the market has entered a wide-ranging fluctuation phase, and in the short term, it will generally move within the 86,000-90,000 range. ETH will generally move within the 3,200-3,400 range in the short term, and SOL will generally move within the 205-225 range in the short term.

Daily Viewpoint:

Last night the market corrected about $5,000, which liquidated many long positions because there were too many people going long, resulting in too many overall chips. I believe that a correction and washout will actually be more beneficial for the market to continue rising later.

Currently, the market has already corrected quite a bit, but it is noticeable that the overall strength of other cryptocurrencies' corrections is not very strong, which also proves that if the market falls, other cryptocurrencies will only fall faster, showing a slow rebound phenomenon. This also indicates that large funds are still mainly flowing into the market, and the altcoin season has not yet arrived.

Also, pay more attention to the release of the US CPI data at 9:30 PM tonight, as it will have a significant impact on the market trend.

Contract Strategy:

Long BTC around 86,500, take profit around 88,500.

Long ETH around 3,250, take profit around 3,350.

Long SOL around 210, take profit around 220.

Friendly Reminder:

1. This strategy is suitable for investors who like swing or short-term trading. Please remember to take profits in a timely manner and set stop losses based on individual positions. It is better to take a small loss than to hold on to a losing position!

2. If the market direction is correct, you can choose to continue holding.

3. If you need analysis on other cryptocurrencies, please feel free to leave a message, and I will provide suggestions based on different position situations.