Part 2/8:
Current State of Bitcoin
Examining Bitcoin's price movements reveals a combination of upward momentum followed by pullbacks. The analyst noted that Bitcoin had recently surged to around $100,000 but is now experiencing a minor dip. Interestingly, such pullbacks are seen as advantageous for traders, as they create opportunities for strategic buying and shorting.
The trend indicates that many traders are beginning to short Bitcoin, which may lead to liquidations if the price rises further. This situation could set the stage for a significant price movement upward as liquidations often create volatility that traders can exploit for gains.