This wave of market movement is indeed quite interesting. The previously bullish whales, watching the price break through the 2 level, immediately started placing short orders. Now, the number of closed short positions is countless, densely packed.

To be honest, the 2 price level is not an ordinary resistance level; it is essentially a long-term high. From a technical perspective, this is indeed an important threshold. Some are already running bots to push short orders, indicating that the market still has differing opinions on the future direction.

My personal view is that this thing has no real prospects. Imagine if it can break below 1 dollar before April, that would be its true arrival point. That’s the support level we should focus on. Currently, the rebound space at this position may be limited, and the risk-reward ratio is not ideal.