Let's review this wave of the market. On December 5th, at 4 o'clock, the price reached the supply zone of 98,000, with a large number of short positions, so it was directly pushed up to 104,500 (squeezing the shorts). After 8 hours, it dropped 📉 directly to 90,000, clearing out the long positions. From the length of this pin 🪡, we can see the market's enthusiasm. Now we are faced with two choices: continue to sell off or continue to push up. If we continue to sell off, since we have already cleared both long and short positions, we need to pause and observe the market's reaction. The key point is that after such a drop 📉, a lot of short positions must have accumulated, and a price increase would better align with the interests of the major players!
Current half-price 100,560, what operations follow?
From the perspective of indicators and positions, the upward space won't be too much, with a high target of 104,500 at most. More likely, there will be a small upward increase followed by a full retracement. If we want to push to a higher price, it will be more reasonable to consolidate for a period of time!
Best wishes to all the bosses for great profits
