#数字货币市场回调 Recently, this wave of trends is worth a closer look— from the Data Layer perspective, this round of pump does not resemble an ordinary technical Rebound.

Let's talk about market sentiment first. In the past 24 hours, the scale of short liquidations reached $150 million, more than 11 times that of long positions. The overall long-short ratio shows that shorts account for 52.9%, but the actual outcome of the competition is that the bears were wiped out. What does this divergence indicate? There are many people shorting, yet the market just won't give them the opportunity.

The price momentum is also very straightforward: $84,426 was pulled all the way to $91,309, with a daily increase of nearly 8%. There was no back-and-forth, just a one-sided strength.

The technical indicators here are a bit complex. The RSI has reached 75.5, which indeed indicates an overbought zone, and in the short term, there may need to be some digestion of profit-taking. However, the MACD is still maintaining a golden cross, indicating that the upward trend framework is not broken. Looking at the two together: a pullback is needed, but the direction remains unchanged.

The key level is now around $91,500, which is both a previous high and a psychological barrier. Whether it can hold this position basically determines how much space can be opened up subsequently.

If one wants to participate, they would consider the following points:

A pullback to the $89,500 range can be an opportunity to enter the market in batches, as this is a relatively safe position. If there is a significant breakout above $91,500, you can consider adding to your position, but don't go too heavy. Set your stop loss below $86,000—this is the trend support, and if it breaks, it indicates a change in momentum.

Looking up, after $91,500, both $93,000 and $95,000 are possible target levels. Of course, in a bull market, sharp rises and falls are normal, so don't let short-term fluctuations shake you out.

The liquidation data has clearly indicated that the bearish pressure is weakening at this stage. Each pullback may be an opportunity to get back in.