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#数字货币市场回调 looks like it has fallen to a critical position. In the last 24 hours, long positions have been liquidated over 45 million dollars, and leveraged long positions have basically been cleaned out.
Interestingly, the data from the last hour shows that the short positions getting liquidated are more than 10 times that of the long positions. Many people are shorting at the bottom, which has instead become a booster for the rebound. Meanwhile, on-chain monitoring indicates that large amounts of funds are continuously accumulating, and this signal cannot be ignored.
From a technical perspective, the current range of $126-$127 can be considered for building positions in batches. If it retraces to $124-$125, the cost-effectiveness at this level will be higher, allowing for larger position allocation. However, it is important to set a stop-loss line; $122 is a clear stop-loss level, and if it falls below that, one must decisively exit to protect the principal, which is always the top priority.
The short-term target is around $132, and if it breaks through, then look at $138 as the resistance level.
The most fearful stage of the market often contains opportunities. Now, short covering may drive price recovery. Of course, trading is essentially a probability game, and we only participate in those situations with reasonable odds.
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Data speaks, but risk control is more important.