This is not investment advice.
My perspective has changed a bit as follows, BTC is currently showing signs of peaking, and buying power at the moment is weakening. However, due to the fomo money flow, the price is still holding steady at 100k. The possibility of a reversal is very high.
1. The current money flow is not there, it is definitely still there but is weakening. The explanation for most of the current increases of BTC is due to the buying power from funds absorbing a large amount of Bitcoin sold, so according to the law of supply and demand, the price increases. But currently the money flowing in is the amount of money that has been continuously increasing since August 2024, when Bitcoin was at 55k-60k. That is, most of them are profitable. And the money flow in the early stages of the market from 40k-50k is still there.
2. Hammer candles appear on the weekly chart of BTC. The weekly chart has 2 hammer candles, most likely next week will be the same. According to pure technical analysis, hammer candles often appear at trend reversal points, where liquidity is exhausted.
3. BTC indicators such as RSI are showing signs of moving sideways at the overbought border, the volume index is also decreasing.
4. Fomo psychology appeared in the recent recovery. This proves that the money flow is losing vigilance.
5. Most importantly, long-term holders have all achieved good profits when continuously collecting at lower price levels.
I have closed all profits in the recent period. I am currently just watching the market. Wish you guys a happy stay.
