Today, on the 2nd, the monthly Bitcoin chart has closed. Many traders focus on 1-hour or 15-minute intervals daily. Given the recent market decline, they fear a significant drop. However, it's important to observe the broader trend. Focusing on short-term movements can lead to being misled by market forces. The monthly chart clearly shows that Bitcoin has surpassed its historical high and is currently fluctuating near it.

In April, despite a significant downward movement, the market did not fall drastically, indicating weak selling pressure. Similarly, June's decline was less severe, suggesting that the short-selling force is weakening over time. A comparison of the K-lines shows a gradual reduction in short-selling power.

Looking at the volume, the decrease during April and June was accompanied by weakening selling pressure, suggesting that the bearish force is nearly exhausted. Today's monthly close with a positive line and a long lower shadow signifies strong support below, with bullish forces outweighing bearish ones.

From these observations, it is clear that the bulls are gaining strength while the bears are weakening, indicating a likely upward trend in the future. Many people look at short-term movements and predict a major drop, but this is a subjective view that falls into the trap set by major market players.

The rise from $15,487 to $70,000 exemplifies a bull market trend, with high and low points moving up. The subsequent oscillation between $70,000 and $53,000 is merely a correction, not a downward trend. Analyzing market movements solely based on short-term declines from March to July can be misleading. Market players often deceive retail investors this way.

Therefore, it's crucial to consider the broader picture. Understanding whether the market is bullish or bearish helps in identifying the overall trend, preventing confusion from short-term fluctuations.

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