5.9 BTC Evening Thoughts

The current market situation makes me really not want to analyze it from a technical perspective anymore. No matter how you analyze it, it won't be lower than what that big yellow hair said. However, the butterfly pattern has already completed. Moreover, what we all know is that currently, 80% of the market is holding short positions, and the big players understand this principle even more. They currently have two choices: either continue to jab upwards, squeezing out most of the short positions before a rapid plunge, but this will incur costs for them. Or they can just keep the price stable, slowly boiling the frogs while waiting for negative news.

Evening operation suggestion: Short at resistance level 104400-105700, Long at support level 102000.

#加密市场反弹