As mentioned in the previous article, it was originally thought that we would first pull back to 80,000 before rising. But this week, it shot up directly!
But I also mentioned in my article that if it holds above 88,500, the pullback to 80,000 will not hold, so theoretically, this surge should be sustainable 😊.
I currently believe we are very close to a stage top position.
I think it will follow a similar distribution pattern as Wyckoff, possibly creating two more highs before starting to pull back. The first high is around 95,000, the second around 96,200, and it may spike to 97,000, but that should be the limit.
This is not a suitable time to chase long positions; rather, one should be cautious and take appropriate profits.
The image below is what I drew yesterday morning, and it currently aligns with the trend.
We shall see 😊.
