Many people are quite confused about the current trend, but in my view, Bitcoin is currently experiencing a typical top distribution, which has happened earlier this year or from April to July last year.
Even in March and November 2021, it was similar, distributing chips for about two months, completing the turnover, and then crashing, resulting in a significant loss for many investors.
If it's a right-side trade, you can wait for Bitcoin to confirm breaking below the neckline before shorting, leading to a significant drop. Before that, it will oscillate at the top, with 100,000 as the neckline support, 110,000 as the peak, and then it will consolidate back and forth around the small support and resistance levels at 106,000. As traders, we can profit from this fluctuation, which is what we’ve been doing in our recent trades, opening positions daily.
Now, the top has been shaking for a month, and the second peak has formed. I believe that in a few weeks, the whale will start to reel in. In fact, you can see that the sensitive small coins have already started to plummet, many have been halved, and we just happened to sell at the highest point last month.
For spot trading, don't rush to buy the dip; let the bullets fly a bit longer, the big drop will come. Remember to follow me, let's go all in together to buy the dip!
