Things may not have been so smooth recently, with ups and downs, but after adjustments, the state has been full these past few days, and a recovery path was achieved in just two days.

Talk about the upcoming trend ⚠️❗️❗️

Currently, from a long-term perspective, Bitcoin faces resistance around 104,500 USD on the weekly chart.

The price started at 73,300 USD, marking a critical position on the upper edge of the upward trend line, and then continued to rise. The subsequent space is quite imaginable; if it can't break through 104,500, there will be a continued pullback.

After dropping from 110,000 to around 73,300, it has now bounced back up. This significant adjustment has been ongoing for several months, and June is approaching quickly. The big bull for BTC is still lacking that final push. We can be optimistic, but we shouldn't be overly optimistic, so a small pullback is definitely expected. Many people say that the market makers won't reverse to pick up participants. When they are reversing and picking up many participants, would you dare to get in? At that point, will it not feel like a real major drop is coming?

Based on the liquidation levels for this week, we can see that the liquidation strength for the bears is stronger around 100,000 USD, while the liquidation strength for the bulls is stronger around 73,300 USD. Therefore, the upcoming trend can go in two directions: either directly down below 80,000 USD or break through to new highs above 110,000 USD, continuing for one last upward push. It feels like there will be another upward trend, but from the upper chart, it looks limited. We'll have to see next week if it can effectively break through 105,000 or if it will be under pressure to drop below around 97,000, which would indicate a real pullback coming. The key turning point will be next week.

For the bears, the best betting point is simply to rely on the area around 104,000-104,500 USD. If it breaks through, it’s time to run. Personally, I believe that at the end of this upward wave, there will be a significant pullback.