Looking at the Bitcoin chart, it’s like a runner who can’t stop after crossing the finish line, and has no strength left to keep running, stuck at 62,750, swaying around. It seems close to the new high of 62,993, but in reality, the momentum to push higher has long disappeared.

The previous surge to a new high was a relentless climb along the moving averages, with no pause for breath or a pullback. But as soon as it touched 62,993, it was hit with a heavy blow, with a few bearish candles directly breaking the upward rhythm.

Now, every rebound looks like a fleeting glimmer of hope; just as it pokes its head out, it gets pushed back down. The moving averages are gradually flattening and turning downward, indicating that buying pressure has long been exhausted, relying solely on inertia to hold the scene.

Adding to that, the looming threat of inflation hanging over the market is like the “Sword of Damocles,” making funds hesitant to pour real money into the market. The current sideways movement resembles a trap of false breakout at high levels, waiting for follow-up traders to buy in, so the big players can quietly slip away.

Just look at the levels: if it can’t hold above 63,000 in the short term, it’s all false breakouts, and a reversal will come; once it breaks below 62,500 support, the bears’ gate opens wide, heading straight for 62,000 or even lower.

It’s clear that the market is in a state of slow upward movement and rapid downward drops. The bulls are at their last strength, while the bears are the real predators lurking behind. Don’t chase after the long positions blindly; a bearish mindset is more stable. #我的Gate交易时刻 $BTC