Post
Meilin (美林 / 美琳)
📉 $BTC closed below the 50-week moving average, with over $1 billion long positions liquidated in 24 hours.
My view: The market is still bearish, with resistance stacked around $74,888–$75,569, so I won’t chase the rebound.
The $76,239 level has been tested with 6 rallies, 4 pullbacks, 1 breakout (which then fell back), and 1 no reaction; I won’t turn bullish unless it holds above this level.
In the past 27.6 hours, $24.74 million long positions were liquidated, with $11.36 million
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