Currently, Bitcoin is likely to enter a large-scale range consolidation. If the top is 11, then let's estimate what the bottom might be based on the data;

With over 800 million Bitcoin longs established in the 107-109 range, most have already stopped losses or been liquidated, and correspondingly, over 800 million shorts have also taken profits and exited. There are still about 500 million in short-term positions waiting to be liquidated;

The more than 500 million Ethereum longs established above 2650 have also basically stopped losses or been liquidated. Currently, there are over 800 million long positions established between 2560-2650, which are very close to the current price;

I still temporarily view the ultimate bottom for Bitcoin at 98, as this can not only force the longs but also leave enough space for the market makers to unload or accumulate positions. However, if a bottoming rebound starts at the 105 level, it would be too friendly for the longs;

But at the current price, neither longs nor shorts are good entry points. Therefore, if you haven't made a profit in your trading in May, or if you've even incurred significant losses, it's advisable to wait for the formation of the range bottom. Once the bottom is formed, trading opportunities will arise without needing to consider stop losses or worry about liquidation.