From the liquidation data, the number of liquidated short positions is clearly increasing, indicating that many people are blindly chasing shorts. The market is in a downtrend and has not yet stopped falling, but that doesn't mean you should go all-in and short recklessly! In the past 24 hours, $100 million in short positions were liquidated, while $500 million in long positions were liquidated, with over 232,300 people affected by liquidations...
Today's short positions look good, taking a small profit. Tonight, I went to find 88 to stretch my muscles. I noticed some movement in the market, and before going to bed, I wanted to share with everyone! After Bitcoin hit 92,500, it rebounded. The rebound at 95,000 is still under pressure leading to a pullback. The current price is oscillating around 94,000, and US stocks are closed on Thursday, so don't hold out too much hope. It's best to trade short-term and take profits when you can.
For Bitcoin, pay attention to the resistance levels at 95,000, 96,000, and 97,000. For support, watch the levels at 92,500, 91,500, and 90,500. If you short at the resistance levels, I suggest setting your stop-loss at 97,500. Personally, I do not recommend participating in long positions. Sudden rebounds after hitting the lows are difficult to catch. To be honest, the current market has not shown signs of stopping the decline, so going with the trend and shorting might be safer. For long positions, you can only look for quick entry opportunities when the price hits the lows.
I still hold a short position at 96,000, with the lowest pullback at 92,500, giving a space of 3,000 points. I don't know if everyone has taken advantage of this or how much you have made. I continue to look down at 92,000 and 91,000 without change, with a stop-loss at 97,500.
For Ethereum, the resistance levels to watch are at 3,330, 3,380, and 3,420, while the support levels are at 3,200 and 3,100. If participating in high short positions, set your stop-loss at 3,450.
My personal strategy is to focus on high short positions, but not to chase shorts. The resistance levels have already been provided, so it should definitely be light positions and participating in batches. The stop-loss levels have also been clearly defined; I do not engage in the kind of hindsight trading that claims to always profit. Alright, everyone, get some rest early. Good night!