After Bitcoin rebounded the day before yesterday, it went sideways all day yesterday and tried to touch 66,700 again, and then continued to pull back. Although the amplitude of Bitcoin's pullback was not high, many Altcoin fell a lot. It really proved the saying that when Bitcoin rises, Altcoin do not follow, but when Bitcoin falls, they fall first, right? Yesterday, we regarded the key pressure level of 66,800 as the upper limit, but it has not touched this pressure level, and we didn't even try it. At the end of yesterday, we said that the trading volume was not too large after this wave of rise, and the dog dealer is estimated to consolidate for a few days, waiting for everyone to finish betting before making a direction. What is the market sentiment now? Is the dealer inducing short selling or long selling?
Then we will analyze the data of Bitcoin OBTI's one-hour liquidation chart.
Judging from the liquidation chart, there are more people who opened short positions than those who opened long positions. When the price rose to 66,600, all those who opened large short positions were reported. The highest short position volume was 4M, which is a lot. The words of this small group of longs can be ignored.
Then let's take a look at Ethereum, which is the same as Bitcoin.
There are more people who open short positions than those who open long positions. When the price rises to 2,970, the market maker will report the large number of people who open short positions to safety. The highest volume of short positions is 2.3M, and the number of long positions can be ignored.
In general, many people now have formed inertial thinking. They go short at every high, right? And they focus on high leverage, which does provide a certain amount of motivation for the dealer to pull the market. However, judging from the current trend, Bitcoin is still in a range-bound market. You can refer to the upper edge line, which is 67,400 points. For the lower edge line, you can refer to 63,500-64,000. #BTCtrendanalysis #ETHtrendanalysis #contractexplosion #markettrend #BTC🔥🔥🔥🔥🔥
