The liquidity distribution of the futures market for $BTC over the past three months shows that the current price is actually quite close to the short positions liquidation zone. If this descending channel-like structure can break out, there is indeed a possibility of entering another bullish trend.

After all, there has been a new wave of short positions liquidity above the 120k position recently. In other words, if the price can return to 118k, then there will be a stepping stone in the middle of the liquidation zone from the previous high.

The main force suppressing prices now comes from the spot market, where there is always a continuous supply of spot during the US stock market opening. Now it all depends on the game between on-site funds and US dollar funds...

To be honest, last week's non-farm payrolls seemed to have quite a lingering effect. The sentiment in the crypto circle is actually not bad, but the sentiment towards BTC from the Americans always gives one the impression of preparing for a "recession" in trading...

I hope this emotion can gradually dissipate~

After all, it really cannot continue to decline further here. If it falls to a new low, the entire structure of the previous long positions trend will be completely destroyed...