Bitcoin is in a healthy pullback after the bull market kicked off... CZ also said: Every pullback is an opportunity! Of course, when CZ talks about pullbacks, he’s referring to Bitcoin’s pullbacks. Right now, Bitcoin is struggling to rise under the pressure of another expected rate hike! The resistance wall at 82K-84K is massive and currently insurmountable. A downward pullback is the baseline scenario. The market moves in the direction of least resistance! A lot of people missed the boat + short-term profit-taking sell-offs + ETF fence-sitting institutions net outflows over the past two to three days + the market hasn’t reached a unified force or consensus for the official start of the bull market + rate hike pressure + international oil prices remain high—there’s too much resistance for an upward breakout, while the resistance for a downward pullback is minimal. So, it’s logical and consistent with market dynamics for BTC prices to drop in the near term. At this price level, I’ve taken a light short position on BTC. In the short to medium term, I’m bearish, but in the medium to long term, I’m bullish and can see the bull market stirring!