This time the market still consistently gave me face; I mentioned in my article yesterday that it would at least return to 111500 in the early morning, and the final price rose to 112036, setting a new high. Congratulations to everyone who followed the Baisheng strategy to go long in the range of 105500-108500.
Returning to the market, the price has once again reached historical highs, and everyone will be confused; I am no exception. So when in doubt, it might be helpful to refer to history.
Let's first compare the 4-hour trends since May 22 and the 4-hour trend since early this morning. The commonality is that both faced resistance, but the difference is that this time it seems there is less divergence (the game among the main players) than last time. It doesn't appear to be the same frequent up-and-down spikes at high levels as before; currently, it looks more like a slow decline. After a big rise, a bit of profit-taking is quite normal; this kind of decline also doesn't align with the main players' selling tactics; it can be said that only part of the trapped and profit-taking positions have flowed out.
So my conclusion is that since there is still no divergence among the main players, retail investors naturally find it difficult to influence the market trend, so short-term prices can continue to rise, so don't blindly be bearish.
I won't make market predictions today because there isn't much to reference regarding where the price will go next; it basically depends entirely on the inflow of the spot ETF and the trading strategies of other institutional players.
I can only say that based on the structure and my personal experience, 112036 is not yet a reversal point; in the short term, we can still look at the range of 112500-113500, so even if you're stuck at the top, as long as forced liquidation is safe (below 108000), there's no need to worry too much in the short term.
