Looking at the 3-day chart, after BTC hits a new high and forms this kind of bullish candle for the second time, it shows signs of exhaustion, indicating a potential deep pullback. The new high has given the market tremendous confidence, and a slight pullback will attract buy the dip, which is just the right time for the market maker to dump. According to the previous pattern, this is how it goes.
However, this time's movement is stronger than the last time, it is not advisable to short at the top. At least wait for a batch of retail investors who chase the high to die off first, and then short.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Looking at the 3-day chart, after BTC hits a new high and forms this kind of bullish candle for the second time, it shows signs of exhaustion, indicating a potential deep pullback. The new high has given the market tremendous confidence, and a slight pullback will attract buy the dip, which is just the right time for the market maker to dump. According to the previous pattern, this is how it goes.
However, this time's movement is stronger than the last time, it is not advisable to short at the top. At least wait for a batch of retail investors who chase the high to die off first, and then short.