The current small-level structure cannot provide a subjective directional view at all, because both long and short liquidity in the futures market continue to accumulate. In this range, it is difficult to go long or short.

There is no probabilistic advantage in the data...

The trend of BTC spot premium in the last two months gives me a feeling that spot is trying hard to buy in, but the results are not ideal, leading to a gradual depletion of buying power...

Meanwhile, the futures market has gradually become more optimistic about the future market from the beginning when it was not favorable...

Thus, it can be inferred that the final breakout method in this range is likely to be led by futures (including false breakouts), followed by a new trend moving downward...