In the current short-term market, I am still bearish, but I don't think the pullback will be too severe!
There is a new theory gaining traction that suggests Bitcoin and Ethereum have both peaked, and a cyclical adjustment has begun. This claim tends to emerge on a large scale every month or two. There is a common problem among KOLs in the Chinese community: they shout 'bullish' when prices rise and 'bearish' when they fall, or they are vague, making it difficult to find someone who can clear the fog during market highs or lows. Such talents are extremely rare in the crypto space.
Currently, Bitcoin does show a distribution structure on the daily chart, which can be interpreted as a short-term peak, but with Ethereum over 4000, institutions are still aggressively buying. Are they only looking to gain a few dozen points, like retail investors chasing small swings?
Bull markets can be volatile; let's not think that a drop means it's all over 🔚. It's still early; I haven't even sold my Ethereum at 4900 yet 😃
Personal prediction: Bitcoin may pull back one more time to around 105000, which should be about right. If Ethereum can make it to around 4100, that would be very extreme, and then we can continue to push upwards! Of course, if it flies without a pullback and hits me in the face, wouldn't that be even better? 😂