The price of Bitcoin has risen to a previous high, reaching over £73,000.
It is important to note that this price level is quite high in Bitcoin's historical prices, and it has only been 7 months since the last time this price was reached.
In this situation, we cannot rule out that some investors might choose to take profits.
These investors may have initially missed the opportunity to cash out, or they might have bought in at a high point.
Their profit-taking actions are likely to lead to a pullback in the Bitcoin price.
Current market sentiment remains FOMO (fear of missing out), and the overall trend is still upward, with a strong bullish atmosphere.
However, personally, I would choose to wait and observe today, and not engage in any operations or trades.
Shorting during a bull market inherently carries great risks, and pursuing high prices at this moment also poses significant risks. Therefore, I personally decide to maintain a wait-and-see attitude👗👆
In such market conditions, waiting for a price pullback before going long is the best way to effectively increase the probability of success and reduce risk.
