Bitcoin is sitting on a super trendline that started during the last bear market, or in plain English, the trendline supported by ultra-long-term dollar-cost averaging believers. As the saying goes, flowing water doesn't compete to be first; it competes to be ceaseless.

At the same time, the sharp rebound starting in February successfully drew in a new wave of newcomers while absorbing a wave of shorts. The rebound was strong, breaking through the downward resistance line. In plain English, those four-year cycle sellers who were still panicking at 60k managed to sell at a good price of 82,000, so now the sell pressure has dried up.

Those who sold in May and did a T-trade actually have the motivation to buy back below 60k. Meanwhile, those who bought between February and May have better patience than those trapped for 9 months, because they've only been trapped for a few months and their mindset hasn't cracked yet.

In this situation, hoping for a long squeeze crash is unlikely. The market is driven by transactions; you need to stir up enough selling/buying pressure to move the situation. For example, over the past 9 months, enough people believed in the four-year cycle theory and sold early, which did cause BTC to keep falling.

But those who believed first have already sold early; now they need to get the latecomers to sell so there can be one final drop, allowing the early bears to cover their shorts.

The question is, are you willing to be cannon fodder in that final drop, kindly helping the early bears to take profits?

Whether it's a bull or bear market, it's always the same: the early believers feast, the late believers pay the bill. If you weren't one of the early believers from the start, by the tail end of the bull or bear market, you can only console yourself that missing out is okay, and don't go for the last fish tail.