24/06/12 Potential M-head at the weekly level, reduce positions when spot prices rise, beware of a sharp drop that replicates the 519 market!

Many of my friends are spot traders. We have always been bullish on this bull market. We see at least 80,000-100,000 for swing and medium- and long-term trading. But in the past two days, I have to pour cold water on it. The pressure span between 72,000 and 73,777 has exceeded 90 days, and it has been more than 3 months since it broke through 60,000 to the current 105 days. If it stays sideways for a long time, it will change, and if it stays sideways for a long time, it will fall. Spot traders might as well wait until it breaks through 73,777 and stabilizes before considering going long. It is less risky than now.

23/03/08 Egypt’s currency collapsed and plunged 40%. Bitcoin’s previous high was rejected in one day. Beware of the risk of short-term correction?