It might be a face slap later, but $BTC is currently at a position that looks too much like a bull trap, and market consensus is so fragile it could shatter with a touch.

Previously, it dropped from 66K all the way down to 47K, then rebounded to 87K and up to 151K; the script is more outrageous than a novel.

Now the price is stuck at 64,159, down nearly one point in 24 hours, neither up nor down, like a fishbone stuck in the throat.

For someone like me who usually watches the market, what I fear most isn't a big drop, but this ambiguous sideways movement.

Because during sideways trading, emotions are the hardest to judge.

If you say it's bullish, the funding rate is ridiculously low, and longs dare not add positions; if you say it's bearish, there’s no sign of continuous volume-driven sell-offs, and shorts dare not chase.

The whole market seems to be waiting for a signal—a needle, or a piece of news—any of which could cause leveraged players to get wiped out.

My own spot holdings are also stuck in an awkward position, saying I’ve gained little or lost little, not hitting the stop-loss line, just hanging there.

This feeling is the most tormenting.

It’s not about fearing losses, but about fearing making the wrong decision at this position.

If next week it really drops back to 58K, then all the chasing longs in this wave will be buried; if it stabilizes and moves upward, now is the best window to add positions.

But I choose to stay still for now.

The more I move in this position, the more mistakes I make.

My market sense tells me to wait for a clear direction before entering, which is much safer than guessing.

Anyway, my position isn’t heavy, if it drops I add, if it rises I take profits, I don’t pretend to be a teacher, I don’t gamble with my life.

This wave of the sports market combined with sideways movement in the crypto space, funds might withdraw some from the futures market to gamble, liquidity is temporarily tight, and $BTC and altcoins are prone to quick dips.

Both sides are watching, waiting for which side signals first.
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