This round of bears is actually working hard, but unfortunately, they have no chips in hand, and those who missed out dare not chase. The sentiment of concentrated shorting is very severe. There is always a contradiction in the market, which is the contradiction in liquidity fundamentals. The spot market is like this, so the final battle is in the futures market, where there won't be enough counterparties for a while, making it difficult to go down in the short term. Previously, we mentioned that the market is not short of money; what's lacking is a favorable stimulus after a rise to let retail investors take over. So tell me, when will good news come out? Have you got on board? These are the key points. Subjectively, a rapid rise followed by a slow decline is a sign of concentrated chips. You don't have to chase the highs, just avoid shorting;

Subjectively, I believe this wave of market should indeed enter an adjustment phase. Right now, nothing has a risk-reward ratio, except for the logic of holding BTC combined with the long-term cycle, which continues to look bullish. Everything else can be regarded as garbage, including ETH. If you can't help but FOMO into BTC, there may still be hope after getting stuck, but the indicators for BTC have deviated too severely. Consolidation can be divided into sideways and pullbacks. If BTC can move sideways, then this wave will not go up; we are still looking at June.