Today’s Market

Today doesn’t feel very good to squat... Maybe it will be a day of consolidation and volatility... As shown in Figure 2
Recently, the on-chain API has been down, and on-chain data is also unavailable...
Figure 1 Order Book
The buy orders for spot below are still at 76k and 76.7k, while the sell pressure above is still at 79k (78.5~79k combined with a large volume, need to pay attention)
The contract remains unchanged, indicating a range of oscillation around 76.5k and above 78k...
Ethereum around 2090 is worth watching, with a large wave of 50k ETH contract orders... We need to see if it’s spoofing or if there are potential absorption signs, and if there’s a narrow loss opportunity, it can be monitored...
Figure 2 Overall projection for today... If there’s no external news stimulus, it’s likely to continue with consolidation and volatility...
Yesterday, after the liquidity below 77k was added, it failed to push above 78.5k, so it’s inferred that today will be a contraction...
If this contraction can be broken out of, the observed range remains between above 78.5k~79k, where there is accumulated liquidity for a week (Figure 3), a gap from the weekend that can be filled, as well as the weekend’s 79k sideways POC and 79k spot sell orders...
Lower long positions are actually a bit difficult... Yesterday’s liquidity below 77k combined with the POC opportunity has already been taken. This POC has been tested once; testing again isn’t very stable...
Considering the liquidity in Figure 3, there’s a little below 77k today... but it’s not very suitable for trading here, as an entry model is needed... a bit aggressive... (because the POC was tested yesterday)
A safer option is around 76.5k, which is better. It’s where the liquidity accumulated this week, along with the 76.7k spot orders and 76.5k contract orders.
Below that, 75k is a place many want to enter...
So today, just like this week, no guessing the direction, but if opportunities arise on both sides, just take them...