Bitcoin's recent Fluctuation has been almost in sync with the Nasdaq. Looking at the trend of the NASDAQ index, we find that Bitcoin has formed a highly similar pattern after experiencing a wave of declines and needle pullbacks. Last night, both Bitcoin and U.S. stocks experienced consolidation, but after the release of Nvidia's results, the market was pleasantly surprised by its excellent performance, with both U.S. stocks and Bitcoin rebounding sharply, and the price of Bitcoin recovered to about $52,000. At present, $52,000 has become a key Long Short turning point for Bitcoin. If Bitcoin can't recover this level steadily, it could signal a downtrend, and further retracement points are worth watching.
Analyzing Long Short Get Liquidated data, it is mainly Long that have been Get Liquidated recently. When the market rebounds, Long Get Liquidated usually reaches about $500 million, causing concern. If the market fails to rebound quickly above $52,000, it could put further pressure down. Both the contract market and the spot market showed that Bitcoin experienced a rebound after the needle pricking action, but unlike US stocks, Bitcoin did not fall further.
$52,000 is the key point of the current Bitcoin Long Short distribution, and the stack-dense area (POC) shows a large number of chips covered. If the price continues to be rejected, Bitcoin has shorts for further downside. At this point, a retail investor's stop-loss level may become a trading opportunity. From the perspective of candlestick, if the price falls to a certain range, it is expected to rebound. In particular, if the market does not break above $52,300, investors holding Short positions may want to consider abandoning Short positions, as Bitcoin may fall back to around $50,000, at which point