On May 21st at 23:00 East 8th District Time, the BTC trend once again verifies my previous view. BTC surged to 109500, the highest point in several months.

At 24:00 on May 21st East 8th District Time, the hourly candlestick showed a doji, indicating that the long positions held by the main force and the short positions held by retail investors have effectively formed a situation of balance. It's like a tug-of-war where both sides are evenly matched; the more balanced the situation, the more calmness is required. If one side shows any signs of weakness, the other will seize the victory.

Summary

For shorts, the 109000 position is basically considered the highest point in the minds of most people (history can prove this). At least over 50% of retail investors think so, but more than 50% of retail investors do not hold 50% of the capital in the crypto space, so those going short still need to be cautious.

For longs, I believe very few retail investors dare to chase long positions at this level, right? However, as long as it does not fall below 108000, there is still a significant possibility of an upward move. If one must go long, short-term longs can be attempted, but stop-loss measures must be in place. However, chasing highs is not recommended, especially at the peak.