This morning, $BTC had a test peak but did not successfully break the peak.

The noteworthy point is that there was no buying force pushing from the Spot. Along with that, there are still small pushing forces and selling pressure from Whales.

This indicates that the upward spike this morning was motivated by the liquidation of derivatives.

After the liquidity is cleared above, the price will return to sweep the chasing Long orders, with two notable areas being $90k and $70k. These are two areas with a lot of liquidity that are likely to be swept through.

Overall, I still maintain my view on the upcoming downward movement. To know whether to buy back or not during this downward phase, it is necessary to observe the movements of Whales and follow them.