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Today is Sunday. The original plan was not to update, but there has indeed been a slight change in the market, so let's take a quick look at the situation. The market experienced a decline in the early morning. We initially expected the market to move on Sunday night and early Monday, but unexpectedly, it dropped suddenly. As for the reason, those who have seen the news should be quite clear; the Americans are about to strike against Iran, which has led to a flight to safety in the financial markets, causing capital outflows and resulting in a decline. As I mentioned before, Bitcoin still has more attributes of a risky speculative asset at this point, and its safe-haven status is still somewhat lacking.

In terms of operations, we haven't encountered any issues. We started shorting from above 108,000, then continued to short at 106,500. The downward target has always been clear, consistently aiming for the 101,000 position. The drop in the early morning also brought us just below 101,000, providing an opportunity for short positions to take profit and for long positions to enter.

Returning to the market, after a wave of decline, the bulls once again faced liquidation. However, the market ultimately stabilized a bit and did not continue to drop below 100,000, which would have led to continuous liquidation of the bulls. Interestingly, from the current liquidation intensity, it seems that the bulls are not convinced and believe that the market's decline is only due to sudden factors. After the liquidation, there have been continuous additions to long positions. The short liquidity liquidation intensity is temporarily distributed around 104,500. Since it is the weekend, it is highly likely that there won't be much market activity during the day, and there is now a lot of uncertainty in the evening and early morning. However, for the bulls, the primary concern is to avoid dropping below 100,000, as that could trigger a chain liquidation and market panic selling, which would be quite troublesome. After all, when the market dropped to a low in the early morning, the premium rate in the spot market increased, and the sentiment for bottom-fishing is quite critical. As for moving upwards, we should first see if the short liquidity liquidation intensity can be cleared.

There isn't much to say about the technical aspect today; we can analyze it tomorrow. The four-hour structure has started to show an oversold rebound, but the bearish candle closed with a downward pin and is accompanied by a bullish candle with an upper shadow. Under such a structure, the strength of the rebound may not be very strong, and the current timing is not favorable, coupled with the sudden market movements. Therefore, for today, we have taken long positions around 101,000-101,500, and we will hold them for now, with a stop-loss below 100,000. If there is a rebound, we should consider shorting around 105,000.

【The above analysis and strategies are for reference only. Please bear the risks yourself. The article is subject to review and publication, and market changes in real-time may lead to delays in information, making strategies not timely. Specific operations should follow real-time strategies. Feel free to contact us for market discussions.】

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