$BTC

A big market trend is about to come; it all depends on tonight's non-farm data.

Isn't everyone confused about this market? Should we push up or down? I can clearly tell you that it's actually bearish. Don't be fooled by the significant rise; after such a rise, there must be a correction because we are currently in a high-level consolidation. The advantage of high-level consolidation is that it can trap many long positions. You can enter at a high and just hold, waiting for tonight's non-farm data at 8:30.

You can take a look at the K-line trend and the position that has broken new highs. It gives you a false impression, making you feel that breaking through the 100,000 mark is imminent. Many comments are shouting about breaking through 100,000 soon. If it were going to break, it would have done so long ago and wouldn't be consolidating here for over ten days. If it quickly reaches 100,000, it would have blown out many short positions. Now, the short side has been blown up quite a bit, and we are starting to blow up long positions. Anyone who is long at this high could be suddenly hit by a sharp drop, potentially leading to liquidation of long positions.

A major taboo in the crypto world is going long at high levels; this is a big taboo. At high levels, one should definitely short and hold a medium-term position.

My personal viewpoint, based on the market, is that the overall trend is bearish.

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