I can’t shake the feeling that this pullback in Bitcoin is a “liquidity bait to fool shorts,” and that once $80k breaks through, it will sweep the liquidity above and then finally top out—only to drop. Throughout this rebound, there have been 4 straight instances showing a fake-out pattern, and each time it flashed a bearish breakdown warning from a “double-line reversal.” It’s just that the altcoin sector has already finished its rotation, and we’re now getting close to a strong overhead resistance zone. The rebound has also lasted long enough, and everything aligns with signals of a potential top turning point. However, with the two major backdrops right now—perpetual contracts still running negative funding rates and the US stock market continuing to rise—these still support Bitcoin continuing upward. We’ll keep watching as it unfolds. $BTC

BTC0.59%
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