Is BTC gone mad—did some “market-maker dog-style” crew lose it?! Spot dipped to 631, while the perpetuals are at 638. I watched it for a long time, thinking my BTC short would make ridiculous profits again! In the end, I got tricked by the market maker!

I placed two trades this afternoon: I went long at 638 and took profit at 641. I shorted at 6247, and just now the wick dipped down to close part of it.

I explained the entry logic to the students on-site—why you should buy here and sell here. Just now when it wicked downward like that, it becomes impossible to predict. The deeper it wicks, the more profit you make—this is just luck!

With BTC spot wicking like this, if it can pull back and push through 645, the overall outlook will turn bullish again. But I checked the recent positioning and price action, and I think we need to wait until the daily candles close over the next day or two to fully confirm the downtrend. For my own forward-looking trades right now, I’m still bearish.

$BTC