$BTC Do not open orders in the range of 117000-119000!!! Currently, it seems that this round of rise for Bitcoin has entered a downturn. If we're lucky, there might be a brief rebound to 120500 before it falls again. If things go a bit worse, I might not get to add to my position.

My own short position will take profit around 118650.

If there is significant volume and large capital enters the market, it might form an extended pattern, but the fundamental principles remain unchanged.

Also, the previous post that illustrated the channel should still be kept, it is still useful.

When it fell to 117600 yesterday, I told my friends that it would rise again, and to quickly take profit on their short positions. My judgment was based on the pattern. Because it had already broken through the position I marked for it, the sudden drop was to relieve the pressure from the top. (I might be saying too much that you don’t understand...)

On the 21st, I mentioned that when it stands above that level, the intentions of the market makers have already become clear. They want to form a prolonged pattern.

Currently in the washout phase, the market makers will still catch you off guard unexpectedly, for example, if it touches 116800, and you are at most close to 119, would you panic?