⚠️⚠️⚠️The upward movement has been welded shut, be cautious about over- chasing!!!

A round of pump pushed Bitcoin to a high of 728, and many people are again shouting in the market that the bull is back and we should look at 100k. I just want to ask these people, have they woken up? It rises a little and they say the bull is back—what are they thinking? Is it to grab attention or to attract traffic? You make a light remark, but others are risking their entire assets—have you considered the outcome for them?

Looking back at the market, the short-term rally is definitely not driven by technical factors. The Iran-U.S. dispute over the strait is essentially endless. The short-term bullish sentiment has already been released. Do you think Bitcoin can reach 100k without any major positive news? Isn’t that a pipe dream?

From a technical perspective, there are no signs of a reversal. On the daily chart, the overall price is still consolidating at low levels. Don’t be fooled by the fierce battle between bulls and bears; the range pattern has never changed. If you are solely chasing longs at this point, isn’t that just asking for trouble?

Don’t be deceived by current illusions. Bitcoin’s upward movement has stalled at 730. If you don’t want to be fuel, I advise you, stop chasing longs. It’s better to wait and see. From now on, I will watch the short sellers’ performance. If we are on the same path, Wukong is willing to give you a hand.