James Wynn: Fully increase the position for long order, Bitcoin will rise to around $118,000 by next weekend.

BlockBeats News, on May 20, Bitcoin opened a $568 million position 40 times more, and James Wynn, a well-known trader who made a profit of $38.78 million in the past two months, posted a post sharing, “Since Bitcoin reached $74,000 at a local low, the price has been running in one channel and has only touched the bottom support twice. I predicted this “breakout” on Sunday, and it turned out to be a fake breakout created by market manipulators who drove down the price in order to liquidate the FOMO (fear of missing out) long positions. I pay attention to liquidation heatmaps, and from the graph, it doesn’t make much sense to smash any further. By suppressing it to $102,200, they have achieved their goal of liquidation. In addition, $100,000 is now an extremely strong psychological support level. I know there must be a lot of limit buy orders waiting for the bottom at 99k, 98k, 97k, etc. And I’m not sure if the big players still have enough firepower to smash the price lower than that, and I feel like they’re running out of energy. When I saw this, I decided to increase my position and go all out. At that time, the bulls on the hourly chart began to engulf the previous candlestick, and many “paper hands” have been washed out. At the weekly level, the MACD also turned bullish for the first time since November/December last year. You’re telling me we’re going to reverse and break down at this node? I’m more inclined to think that this is just short-term noise and volatility, the gestation stage before Bitcoin’s big rally. I believe that by the end of next week, we will see Bitcoin trading around $118,000. Of course, there may be volatility in between, but stay calm, don’t mess up your chips, manage your risk and look forward to new highs.”