I wonder if you have ever thought about it. BTC is facing the biggest Mentougou panic in a decade. The German government has also quickly cleared its Bitcoin holdings. Why is the price of Bitcoin still rising?

The reason is actually not complicated. Those panic factors are just appearances. Ordinary investors have not seen the underlying buying situation clearly. In fact, buying and selling have reached a balance at 53k.

At present, the scale of buying is still larger than selling. In addition, many people established small positions when 53k rebounded to 60k, increased short positions in the 60-62k range, and also increased positions at 65k. Therefore, if it moves up about 5%, there will be a lot of liquidity generated by liquidation.

Therefore, this wave of market is expected to reach 68k first. The 1-hour upward trend continues, the moving average is in a bullish arrangement, the market has not yet accelerated to the top, and the small level has formed an ABC running-flat adjustment wave.

In short: shorts should be careful!