From the current market situation, we can see that there are pending orders at 90K for bnperp, which means that there will be strong buying power at this round number point, and the closer we get to this point, the greater the risk of shorting.
From a data perspective, the long-short ratio has turned upward to the 1.4 area, which allows us to infer that the main players are gradually exiting their short positions.
Next, barring any unexpected circumstances, the main players will gradually enter the market to go long and happily, but they will adopt a staggered entry approach rather than building positions all at once.
However, for the time being, this is not our main entry opportunity.
From a chart analysis perspective, I believe there is a certain possibility that the lower eql position will be touched, and 85K coincidentally overlaps with the liquidation area on the heat map.
This indicates that, as I explained in my previous article, I believe that the cyclical bottom will likely form around 90K or between 88 and 85, which is exactly the ideal price point for us to position long orders and spot purchases.
