The crude oil trend hasn’t been that strong, actually.
Brent crude looks like a false breakout.
After liquidity was drained, WTI also dropped.
Gold hasn’t fallen much.
It looks like $BTC and $ETH fell too much.
Because this is a high-beta, high-risk asset, volatility will increase.
At the same time, for market makers to sweep up derivatives contract liquidity, big price swings are normal.
From this, it’s clear that you shouldn’t panic too much. I’ve always believed that this BTC move from 828 up to 873 only provides about 5.5% upside space—which isn’t enough (this view I’ve mentioned many times before). At least a 10%-15% rise would be more reasonable. Because many big short-sellers in bear markets are absolutely going to hold their positions. Once they’re in the move, when prices drop you often see it go to 750, even below 600.
These big shorts are the best fuel for future upside!
In short, the logic is simple: if you can’t stand me and you can’t take me out, then the only way for prices to rise later is to wipe out those big short-sellers.
The rest is up to time. Everyone, keep going!