BTC pullback is still ongoing

Don't rush to chase long positions in the future market

The day before yesterday, BTC surged sharply due to news of interest rate cuts, and many people, after witnessing this rally, thought a big market was coming, so they started to chase long positions desperately. As a result, there has been a 50% pullback in the past two days. I estimate that many people are now trapped. I often tell everyone in my live streams: never chase after a price increase, and don't chase after a price drop. Chasing highs and selling lows targets retail investors without discipline. After a significant rise, first look for a pullback; after a significant drop, first look for a rebound. Just like I mentioned in my live stream a couple of days ago, this low long rebound could at least be 3,000 to 5,000 USD. As a result, it went from 111,600 to around 117,400, rebounding by about 6,000 USD. All of this was within my expectations, including that I deliberately posted yesterday to remind everyone that BTC would mainly experience a range-bound pullback in the next couple of days, and everyone should be cautious about going long. Yet, there were still some who didn’t listen. Although I also took low long positions, I did so after the pullback, ensuring at least some profit on my entry, while most others chased the highs and got trapped!

As for the upcoming market, I believe everyone should not rush. Although there has been a volume increase in this rise, BTC did not stabilize above 116,000, which proves that the market is not as fierce as it appears. It is also possible that this rebound may have already ended. Therefore, I think everyone should be patient and wait until tomorrow, Monday, to see the market before entering. Otherwise, it is easy to get trapped.