#BTC🔥🔥 This wave of highs on Friday broke the previous highs in other exchanges
However, Binance did not break through the previous high at all.
Whether it is Bybit, OKX, Bitget, or Coinbase
They all formed a false breakthrough pattern against the previous high.
But only the price on Binance has not broken through the previous high
I don't think this is a sign of the end of the trend.
In terms of magnitude alone, these exchanges only broke through their previous highs by an additional 400 to 500 US dollars.
I think this is not enough as a stage top.
Moreover, when it was blocked and fell back, it did not release too much energy.
I personally tend to believe that this upward breakthrough is just a test by the main force.
Test upwards to see how much selling pressure there is and how many people are FOMO
And in terms of time, liquidity is very poor on weekends.
Choose a false breakout on Friday night and a narrow sideways trend over the weekend
Is this the main force giving benefits to the short sellers?
I don't think so.
I think the current trend is still in a wide range of fluctuations, that is, a distribution structure.
After the distribution is completed, the market will end completely after the final sprint.
What about from an operational perspective?
The first position we need to focus on is around 36800
The low point here must be broken, the difference lies in whether it breaks directly or the pin is retracted
If the pin is withdrawn, it means that the next surge will not be too far away and may appear soon.
If it breaks, it may take at least one more shock, which may take one to two weeks.
That is to say, the final sprint may not come until next week.
Therefore, friends who are ready to go long should pay attention to the breakout of this position.
You can try long at the pin, and put the stop loss at the new low point
If there is no pin, then you need to look down one more line, which is the parallel low point here.
Once the area around 36800 is broken, the next position will be the parallel low point around 355.
There is a high probability that this parallel low point will be broken.
As for how deep it will fall, I personally tend to think it will not fall below this low point.
In general, with the arrival of December, this wave of artificial bull market has basically come to an end.
Any subsequent surge is a good opportunity to short.
Of course, the premise is still to control the leverage and position. After all, the main dog is not a human being.
Don't be a gambler, die before dawn, become fuel
