In recent days, mainstream cryptocurrencies have been in a downward trend. Those who can hold onto short positions are definitely making profits!
I have also held onto some for a few days, and now I've made a fivefold return with 38600u.
The upper resistance level is 126208 USD, and the lower support level that must be maintained is 101516 USD. If we break this level with significant volume, the next support to watch will be around 98000 USD.
On the news front, the economic data released by the United States is crucial. Additionally, we need to keep an eye on the money flow of the Grayscale ETF; any significant outflow will lead to selling pressure.
From on-chain data, I've noticed that there are large whales placing many buy orders between 100000 and 102000 USD, but the BTC inventory on exchanges is still increasing, indicating that the selling pressure has not been fully absorbed.
To avoid taking detours, it's important to follow the right rhythm. I have been seriously analyzing the market, laying plans in advance, and preparing before the market starts moving. If you need real-time strategies, you can reach out to Sing and Dance Brother.