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By 2030, I previously warned that short-term traders could consider closing their long positions near the 2120 resistance level. Although the price surprisingly reached around 2100, it was clearly aimed at high-leverage liquidations. The longer the price stays sideways above, the less likely it is to break through. Buying momentum gradually weakens. What do you all think might happen next?
Speculative funds that buy to maliciously trigger liquidations with high leverage won't hold long-term; they will exit quickly. When they target large shorts with leverage and the price consolidates at resistance levels, it indicates that these short-term funds are gradually unwinding their long positions using leverage. The longer the sideways movement, the more likely they need to close their positions in batches. With large holdings, when they profit from longs, they can simply sell spot and go short again, reversing and killing the long positions.