This is my perspective, how do you all see it? And I also do not advise you all to follow me….‼️
My perspective has changed a bit as follows, $BTC is currently showing signs of a peak, and the buying force at this moment is weakening. However, due to the FOMO money flow, the price is still stabilizing around 100k. The possibility of a reversal soon is very high.
1. The current money flow is definitely still there but is weakening. The explanation for most of the current increases of $BTC is due to the buying force from large funds absorbing a significant amount of Bitcoin being sold, hence according to the law of supply and demand, the price increases. But currently, the inflow of money has been continuously increasing since August 2024, when Bitcoin was at the threshold of 55k-60k. This means almost everyone is in profit. And the money flow from the initial phase of the market from when it was 40k-50k is still present.
2. Hammer candles appear on the weekly chart of $BTC. The weekly chart shows 2 hammer candles, likely the same for next week. According to technical analysis, hammer candles often appear at reversal points, where liquidity is exhausted.
3. BTC indicators like RSI are showing signs of sideways movement in the overbought zone, and the volume index is also gradually decreasing.
4. The FOMO mentality has appeared at the recent rebound. This shows that the money flow is losing caution.
5. Most importantly, long-term holders have all achieved good profits as they continuously accumulated at lower price levels.
I have locked in all profits in the recent phase. Currently, I am just observing the market. I wish everyone good luck in whatever coin they invest in.