$BTC is currently fluctuating around 119,000. If it doesn't break through this level, it is very likely to dip down before continuing to rise to fill the CME gap below.
Watch the 120,000 level above and the 116,500 level below. Retail investors can't push BTC's price up; only when funds flow back from ETH will we see a significant rise. We're just 3.2% away from the previous high.
BTC ETF saw outflows last night, but the market absorbed it all. Only when the tide goes out do we know who has been swimming naked.
$BTC has encountered significant selling pressure at the 12.2 level.
The daily chart shows a long upper shadow candlestick, indicating that the adjustment has already taken place after the downward spike this morning. It will first rebound to around 119800 before consolidating, waiting for the CPI data to be released tonight.
It is expected to test the previous high of 123200 again. Before the market ends, it’s best to focus on buying low. While there is significant selling pressure, buying interest is also strong. This situation is suitable for some swing trading (for those with good technical skills).
Now, the shorts have become smarter; the liquidation price for the shorts has risen to 123000, with over 175 million in liquidations. The liquidation price for the longs has dropped to 116200, with 211 million.
Looking at this, there are still more people shorting...
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