The market has once again witnessed a stunning evolution of the行情 - the bearish liquidity below 101400 has been completely swept away, while the remaining bearish defense line around 103000 is also in jeopardy. This almost frenzied upward trend, in the absence of significant positive news, has truly left many traders feeling confused. However, upon closer examination, this is precisely a classic interpretation of market games.

The core logic lies in two key contradictions: on one hand, stubborn bears are like moths to a flame, constantly adding positions during each pullback; their stop-loss orders have instead become fuel for driving the行情; on the other hand, cautious bulls are always reluctant to build positions aggressively, resulting in a unique structure of market liquidity that is 'upwardly virtual and downwardly solid.' This is akin to a peculiar tug-of-war - bulls continuously reduce their positions and exit during the upward movement, while the persistent bears desperately pull the price upward, forming a self-reinforcing upward cycle.

Judging the subsequent走势 has actually surpassed the scope of technical analysis. The true barometer lies in market sentiment: when the last bear surrenders, and the most cautious bulls start to chase prices, that is the moment to be wary. Taking my personal operation as an example, the short position layout at 97000 has already reserved enough elastic space - the settings for taking profit at 83000 and stop-loss at 104000 consider the extreme liquidation that stubborn bears may trigger, while also leaving room for potential new spot buying. After all, in the crypto market, real risk often comes from those who mistakenly believe 'this time is different.'

The market continues to change, and we closely monitor the market to seize new entry opportunities. Like + comment, let's traverse the bull market together and seize this major opportunity.