Today’s Market

Figure 1 The order book today is not much different from yesterday
76k saw a new wave of spot sell orders, including quite a large amount of spot orders on Coinbase above 150..
At the same time, from 75k up to above 76k, there are also many open orders..
So the potential observation zone above today is still around 76k..
1. The secondary high point below 76k, where spot orders are eaten up if it drops..
2. A wave of SFP (Short-Forecast-Position) being broken and absorbed, then going down..
3. Continuous buying of spot, forcing a short squeeze upward..
All three scenarios are possible, although it feels like all of them are being discussed..
So, it really depends on the entry model and SFP posture..
The dense area below, around 73.5k, is a previous low that has been tested several times and needs close observation..
If it cannot hold here, it’s easy to step down and fill the gap below.
(Figure 2)
Figure 3 Whale orders..
Whale orders that disappeared yesterday have reappeared at 76k and 80k..
Again, these are quite aligned with the current bullish target levels (80k combined with various on-chain cost lines, which I’ve been mentioning these days and will not write about today)
The potential “food zone” below is around 70k, which may not be reached in the next couple of days... but traders can watch for it if it gets there..
Figure 4 Liquidity
Currently very obvious... Large short stop-loss orders above 76k (potential SFP opportunity)
The concentrated area below is similar to what we see on the K-line, extending from 73.5k down to 73k..
Further down is the previously mentioned zone, if 73.5k breaks, then the area around 72k will be filled..
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So, what’s the potential plan? If a low long position is taken at 73.5k... observe whether it’s an SFP or a breakdown..
If it breaks and doesn’t recover, there’s an opportunity to chase a short..
Keep an eye on around 72k below...
The above high short positions are still to be observed around 76k, and all three scenarios mentioned earlier are possible, requiring flexible response and entry models...