It seems that the double top scenario I predicted on May 23 has been validated, and the market is indeed following the script. I had mentioned that I personally lean towards BTC breaking new highs to 110,000, and ETH rising to around 2,800 for a double top washout. Anyone who has followed me for a while should know that I've emphasized my double top scenario more than once. The 110,000 level for BTC is very crucial; once it breaks, the bears cannot set stop losses and can only passively concede defeat.

And indeed, that has been the case: bear stop losses triggered a surge, followed by a market crash, which is a typical short squeeze scenario. We previously mentioned that if Ethereum cannot hold 2,800, it might rally with Bitcoin and then get hit back, resulting in a double kill for both bulls and bears.

If you chase the long at 2,800, only to get pushed up and then hit back down, you end up trapped. This type of movement isn't random slaughter; it's a rhythmic washout and harvesting.

Bitcoin has surged from 80,000 to 110,000, an increase of 30,000 points. Normally, a pullback of five to six thousand points would be healthy. Many people started shorting from 90,000 and ended up getting hammered all the way down. We have always said that it is following a rhythm of 'slow rise - breakthrough - adjustment,' and we have now entered the adjustment phase.

Next, we need to focus on whether Ethereum will trigger panic during the pullback. If people start to sell off massively, it might actually signal the start of the next round of the uptrend.

However, many people follow the crowd to add positions when they see others making money, only to find themselves stuck when the market changes. This is a typical 'experience trap.'

Don’t think that veterans won’t make mistakes; they are more prone to misjudging the market due to their experience and can end up holding until the last moment without being able to exit.

If Bitcoin falls below 100,000, the market can be considered to have truly started adjusting. When sentiment collapses, the bears will follow suit in chasing the market down. But once they have all accepted their losses, the market is more likely to stabilize.

97,800 is a key support zone; a pullback to here would be more reasonable. Everything that needs to explode has exploded, and once positions are lightened, there will be room to restart.

As for when the market will stabilize, it depends on when the bulls start to sell off. As long as retail investors are still holding on, it will be hard for the market to reverse. Once they surrender, it is more likely to hit the bottom.

So the market is dynamically changing, and our rhythm is still following the plan. If you want to get more timely judgments, I suggest you follow my operations earlier. The current margin for error in the market is extremely low; without a systematic understanding, one can easily be harvested.

Crossing cycles relies not on luck, but on understanding and strategy.