The market changes before emotions

This morning, the Asian market reached a high of 695, with strong bullish sentiment. A pullback started in the afternoon (I advised to hedge at 68300), with OI not significantly dropping and liquidation volume not high. This indicates that the market sentiment is still FOMO, fearing to miss out on the bull market + leveraging to buy the dip + holding positions.

Based on the past six months of experience, we need to wait for a cliff-like drop in OI & massive liquidations to hit the bottom.

However, if this truly is a bullish reversal, there is a chance that the bottom will be front-run and pulled back early.