BTC: Range trading & event-driven trading

Today's BTC market demonstrates the dual characteristics of "rallying and then pulling back and range-bound fluctuation". In the short term, it will most likely remain in a range-bound state, and the probability of breaking out of the range before the option expiry is relatively low.

If the U.S. Dollar Index breaks below 99.2, BTC is expected to move upward to test the resistance level; if whales show signs of closing long positions, it may continue to decline.

Given that whales' 40x highly leveraged positions may trigger liquidity squeezes, it is recommended that retail investors limit their leverage ratio to no more than 5x and avoid chasing longs above 121,800.

Based on the current market conditions, it is advisable to adopt a composite strategy of "range trading & event-driven trading".

Buy 120500 - 121000
TP 121500 - 122000
SL 120000

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