Concubine's Evening Hanging Order Strategy

Today, it seems like a strong bullish signal; a brief pullback followed by a rapid surge. Does it feel like it will continue to rise?

Such operations are generally the actions of the market makers offloading their positions. Only a slow decline makes you believe that the market makers have the strength to support the market, leading you to think it will continue to rise. At this point, you might be buying in, especially since all coins have performed well over the weekend and today, with many people still feeling bullish.

I feel there will be a pullback today, but it won't be significant because from the last washout at 3100 to now, there has been a rise of 450 points, an increase of 18%. This is already considered a considerable gain for others, although it's not as exaggerated as altcoins, it's still quite a struggle for mainstream coins.

Personal Opinion: So far, it is at 3655. Looking at the high Fibonacci retracement, it is in a relatively high position. The 4-hour line shows a long shadow above the closing candle. There is considerable resistance above. After breaking the 3700 level on the 12th, it experienced a significant rise towards the 4000 mark, and it even dipped down once before rising again. This indicates that this level is crucial; I feel it will definitely break through, but not right now.

This trade will not yield particularly large profits from the pullback.

Short positions entered at 3680-3700.