The people who were bearish at 15,000 and those who were bullish at 70,000 are the same group of people. Those who did not enter the market during this Bitcoin pullback will have difficulty getting on board again!

Bitcoin briefly fell below $60,000, reaching a low of $56,700, but soon returned to over $63,000. This is called a false break. Such a rapid decline and rapid rise is designed to blow up contracts, first to blow up longs and lure shorts, and then to blow up shorts. Although the price returned to $63,000, many people's positions were gone.

As mentioned in previous articles, the purpose of Bitcoin's fluctuations between 60,000 and 73,000 US dollars is to explode the contract and deleverage.

Those who waited for a big drop last year and missed out on the opportunity, now that Bitcoin has broken through the historical high of the previous bull market and reached 70,000 US dollars, can no longer hold back. However, the starting point for entering the spot market is too high, and they are unwilling to earn less than others. If they want to get high returns, they can only do contracts and use leverage.

For this group of people, the main force will try every means to get them off the bus, because those who missed the opportunity and those who were trapped in the market last year are the same group of people. Their will is not firm, and a slight correction will make them leave the market.

If you don't get the rhythm right when trading in the cryptocurrency circle, you will make mistakes at every step. Once you make a mistake for the first time, you will feel very unwilling to see others making money. Why can others make money but I don't? Then you will become impatient and lose your patience. You will throw the risks aside, and only be jealous of others. You will start to try all kinds of methods. As long as someone tells you which currency is good, you will buy it, regardless of whether the trend is still there or whether you chase high. The final result will definitely not be ideal. Stop losses back and forth will only make your principal less and less. You originally dreamed of making a lot of money in this bull market, but in the end it turned into just getting your capital back. This is a true portrayal of many traders. When the bull market ends, look back at the people around you, and you will find that most of them are like this.

Why is this so? It is because they cannot distinguish between bull and bear markets, and cannot judge the trend. Today they read this person's article, tomorrow they listen to someone else's words, and the day after tomorrow they read media news. They are always erratic and have no persistence. Once the market fluctuates greatly, they begin to doubt and end up with nothing.

Let’s analyze the four-hour short-term market of Bitcoin today.

1. As can be seen from the chart, the overall bullish trend began to increase in volume and the bulls began to become strong.

2. Currently, the price has come to the pressure level formed by the upper dense trading area, and a pregnant line pattern has appeared.

3. In recent four-hour K-line bulls have begun to shrink, which shows that there is a lot of pressure from above.

4. Although the overall bullish trend began to increase in volume, when it reached the pressure level, the bullish trend began to shrink again, and the market entered a period of volatility.

Through the above analysis, it can be seen that the overall bulls have become stronger, but they are currently encountering pressure points, and the bulls are shrinking, so there will be a wave of corrections later.

Although there will be a pullback, the magnitude of the pullback will not be too large. The bull market has not ended. I only do things that go with the trend. Although there will be a pullback in the short term, I will not short sell. You can be bearish during the bull market, but you cannot short sell.

Wait until the pullback is over and a reversal signal appears before going long. This will increase the probability of success.

The four-hour market changes very quickly. Short-term trading should be exited when profits are good. Don't let yourself be trapped because of greed. Short-term trading emphasizes capital utilization, so you must be willing to take profits and dare to stop losses, otherwise the meaning of short-term trading will be lost.

I am Qiqi. If you are confused and don’t know what currency to buy and can’t understand the market, you are welcome to consult me.

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