Since the Bitcoin spot ETF was approved in January, BTC has shown almost a super unilateral rise, mainly driven by Wall Street institutions, pushing the first stage of the bull market to directly break through the historical high and reach 69990 points.
This is the first stage of the bull market: the primary stage!
After breaking through the historical high, the consistency expectation of unilateral rise began to loosen. In other words, the market has seen the emergence of forces breaking the expectation of consistent rise, which is directly caused by the significant increase in profit-taking by institutions and early market participants.
There is no market that only rises and does not fall!
When the consistency expectation reaches a stage peak, the market will show differentiation, and the bulls will no longer have an absolute advantage, thus guiding the market to enter the second stage: the big opening and big closing!
The meaning of the big opening and big closing is very obvious. It means that due to the disagreement on the current price, the bulls and bears will enter into a fierce game and struggle. Simply put, the market will enter a significant high-level oscillation. From the perspective of the K-line theory, it is about to enter a 4-hour level consolidation oscillation:
As shown in the figure, with the price breaking through the historical high, signs of exhaustion of the bullish force are appearing, and the bearish force is gradually becoming evident. The basic characteristic of this stage will be the appearance of a 4-hour level consolidation oscillation with fluctuations of over ten thousand points. In this stage of the bull market, violent washing of positions, cleaning up of floating chips, and gradual consumption of bearish force will take place before the bulls gather strength again and choose to break through upwards.
For us, how to deal with the characteristics and changes of the new stage of the bull market? In summary:
Sell big when it rises big, buy big when it falls big!
The above statement is actually for medium and short-term positions. For long-term positions, they can remain unchanged. Long-term positions are the cornerstone of this bull market, and should not be easily adjusted before the bull market reaches its climax. However, for medium and short-term positions, the difficulty of operation will increase, and those with weak technical abilities or poor position management may be washed out during the big opening and big closing stage.
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