Today, Bitcoin surged high, almost touching the 121,000 mark every time, but quickly fell back just before reaching it. This already indicates that 121,000 is a very strong resistance level. This morning, Xiaozhuge also reminded that the current price could be shorted. At that time, many people thought I was just talking nonsense, but looking back now, doesn't it make some sense?

If Bitcoin really had strong upward momentum, it should have already surged like Yita and some strong altcoins. But the reality is, it has been stagnant for two or three days, without a decent breakout action. This indicates that the main funds are not willing to pump Bitcoin at this stage.

Additionally, recent on-chain data shows that whale addresses are clearly exhibiting continuous reduction and selling behavior, which further confirms the heavy selling pressure above. In terms of market sentiment, at least 80% of people are currently expecting a "bullish trend continuation" or even a "big bullish candle attack", but the more one-sided the optimism, the more likely it is to become a starting point for risk.

From a long-term perspective, my personal opinion is: I personally prefer a downward trend rather than blindly chasing the high of $BTC #美国众议院通过三项加密货币法案 at this time.