📊#BTC breaks through again and again, what is the intention❓

30 thg 11, 2023

➡️If we look at it from the perspective of technical analysis, a successful breakthrough means that the bulls will continue. First, we formed an ascending triangle here and successfully broke through upward. Then we have reason to think that the rise will continue. It will also be the last wave of rise. However, in order to avoid the risk of a possible correction, we chose to reduce our holdings when we broke through the previous high yesterday and continue to play the remaining goals without risk.🎯

➡️If we look at the sentiment of the market, most people are bearish because they think that an adjustment is about to begin and this is the top. But what I want to say is that judging from yesterday’s BTC funding rate, it actually showed a surprisingly negative number, which means that short sellers have to pay handling fees to long sellers. We have seen this kind of example with TRB before. However, short sellers have mostly become fuel, that is, liquidity providers.

➡️If we look at the data, the liquidation map data of the entire network shows that the total liquidation funds for BTC rising to 40,000 US dollars are 1.3 billion US dollars, while the total liquidation funds for 35,000 US dollars are 900 million US dollars. For whales and institutions, $1.3 billion is obviously more attractive. 💯

⚠️In addition, the longer we consolidate here, the greater the amount of investment we will attract, and the more funds will be liquidated, so risk management is essential.💯✔️

👆To sum up, I think the probability of continuing to rise is greater than the probability of falling. 📈

Let's see👀
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