BTC Evening View:

This morning's rally was really unexpected and completely unexpected. Logically, the market does not have the conditions for a sharp rise, but Bitcoin was pulled up. The only reasonable explanation is that some institutions are ready to sell. The market liquidity on Monday is not much different from that on weekends, and it is still in a state of low liquidity. If institutions want to sell in this situation of insufficient liquidity and place orders to sell, retail investors will not be able to take over, which will inevitably lead to a significant drop in prices. In order to avoid this situation, institutions can only buy at the current price and pull up the price.

When the price is raised, many investors who have not yet boarded the train will be in a wait-and-see state, waiting to step back to enter the market, while institutions will continue to push up prices, attracting more retail investors FOMO (fear of missing out) emotions, worrying that they will miss the opportunity if they don't board the train again, and start chasing high prices. At this time, institutions can ship with the trend. I feel that this is today's market script. I wonder what you think?

My personal strategy is to go short based on the chart. If the price can be pulled up to a high level, I will try to go short. If I can't find a suitable point, I will continue to wait and see. As for going long, I will wait until it falls back to the key support level before considering a light position to go long. In the current situation of neither going up nor down, it is not recommended to enter the market rashly, as there are no good opportunities for operation. It would be interesting if the market has another sharp reversal after the opening of the US stock market tonight.

In addition, there are two major events worth paying attention to today:

The East Asian region launched a military exercise code-named "Sleeping for the Day" in 2024B, which started directly in the early morning without any prior warning. This name is also very meaningful!

The joint army composed of 19 countries has assembled in South Korea, while North Korea has strengthened its border artillery firepower and received orders to prepare for shooting. These geopolitical factors may also provide a background for market fluctuations.

These two things show that the situation is indeed becoming tense, and whether it is related to the market's pull is also worth our continued observation.