As expected, Bitcoin has entered a hesitation mode around 118,000! The market makers are really doing nothing, and it's crucial to trade with light positions at this stage, paying attention to market changes.
A couple of days ago, Bitcoin made a downward probe, harvesting 500 million USD in long positions, and then directly initiated a short slaughter, stagnating at the key position of 118,000, showing no signals of either rising or falling. It's not that the market makers lack the conditions to choose a direction; they are deliberately allowing the market to choose for itself, as they have more harvesting space afterwards!
Those who trade know that breaking through 118,000 will likely lead to 120,000 or even higher, while failing to break through may continue the downward trend. At this critical moment, it just happened to stop at this position, presenting the dilemma to the market. However, the market 'chives' certainly cannot dominate the market situation; they can only lean towards either long or short.
The Federal Reserve's interest rate meeting will begin shortly, which is a key event determining the direction. In such an uncertain market, it is wise not to engage in any trading operations; traders should focus on certain market conditions.
My personal trading advice is to short at highs for two reasons: on one hand, there was a downward test a couple of days ago, and it is highly likely there will be a second or even third downward trend. On the other hand, the risk-to-reward ratio for shorting is more favorable than for going long.
In trading, it is about the risk-to-reward ratio and the probability of profit, don't you think? $BTC $ETH $SOL
