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Bitcoin's recent trend still mainly depends on that unfilled CME gap. Over the past two days, it has repeatedly pulled back within the 90.4-89k range, but as long as the 89k level holds, the bullish pattern remains intact. Opening the 4-hour chart, you'll see that this rally started from 89k, and institutions have not shown signs of large-scale selling yet, indicating their outlook remains bullish.
From a technical perspective, as long as it doesn't fall below 89k, the long position logic still holds. Following this line of thought, Bitcoin should aim for at least 97k. Of course, risks always exist, so strict adherence to your stop-loss plan is necessary.
It's worth noting that the performance of altcoins over the past two days has been quite interesting—although the decline has been slow, there has been a noticeable downward trend to varying degrees. If you previously shorted these coins, you might consider gradually closing positions to lock in profits. The next move will still depend on how Bitcoin handles this critical support level.
Are institutions still adding to their positions? I don't really believe it. How's the actual trading volume these days?
Altcoins dropping slowly is the real scary part. Stop messing around and just go all-in on Bitcoin.
I'm skeptical about 97k; let's first hold the 89k line.
It's definitely time to run from those trash coins when shorting; don't wait for a rebound to crush your holdings.
Honestly, the performance of altcoins right now is just following the trend; they won't move until the main players wake up.
The 97k level must be tested, but the key is not to break that line.
It's either institutional bullishness or bullish logic—who's really buying?
I already sold my altcoins during this dip. What are you guys still hesitating about when to exit?
97k? Let's first hold the 89k level, and forget about those empty talk.
Just because institutions haven't sold off massively doesn't mean it's bullish. That logic is a bit presumptive.
When will the CME gap be filled? Isn't that also a mystery?
No matter how well the stop-loss plan is written, it’s useless if you’re not willing to cut when the time comes.
The recent dip of the shanzhai (copycat) coins has been a bit annoying, slowly grinding down. Brothers doing short positions, lock in your profits quickly.
The CME gap is indeed crucial. If it can't break 89k, the bulls are still alive.
Honestly, I'm a bit exhausted. It's always this support, that support. When will it truly soar?
I think 97k is uncertain. Better to first defend 89k and go from there.
Institutions are bullish? Then why don't they just buy in directly? I've heard this kind of rhetoric too many times.
Stop-loss is the most important. Don't go all-in, or you'll get wiped out.
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97k really? Feels like every time someone calls out this number, but what’s the result?
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Altcoins have really taken a hard fall; I ran away long ago, don’t ask me how I know.
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Stop-loss is probably just there to burst our dreams haha.
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No signs of institutions selling? Why do I feel like they’re secretly moving out?
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CME gap really is like fate; it always has to be filled.
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That short position really made a profit. Now just waiting to see what Bitcoin does next.
This wave of upward momentum still feels quite stable, at least I haven't seen big players fleeing.
The recent trend of the altcoin market has been really interesting. The decline has been neither too fast nor too slow, which feels a bit strange.
97k has some room for imagination, but the risks must also be respected. Stop-losses should not be taken lightly.
If 89k can't hold, I’ll just admit defeat. There's nothing more to say.
The fact that institutions haven't run away suggests they are also optimistic about the future market. I find this quite credible.
Staring at the gap every day has become quite tiresome; we're just waiting for the answer of whether it will break or not.
Friends who are shorting can consider exiting now. Greed doesn't lead to good outcomes.
If this time we can really push to 97k, it would be incredibly satisfying.