In the past few days, many people have been struggling. Only those simple or clever spot traders might have made some money.

But many who trade contracts either exited their long positions early, got trapped in their short positions, or faced direct liquidation, losing everything.

Yesterday, I saw someone lose 160 million playing contracts.

In the crypto world, trading contracts can easily become addictive, much like drugs. We always think that if we have a lot of money, we won't trade contracts, but the fact is, many still succumb to human nature.

Yesterday in the square, many short sellers were praying and hoping for prices to drop soon. Some said if it fell back, they would sacrifice a pig to the heavens, while others said they would run naked for a kilometer.

A drop is certainly coming, but it might take a long time.

I guess most technical analysts now, like me, are hesitant to speak freely. Those who are short are scared, and those who are long either exited early or got wiped out by the fluctuations.

Although the risks haven't materialized yet, the current position is indeed very high. I'm also wondering if I warned too early. People's emotions are very crazy, and sometimes this madness can last a long time.

BTC's current market cap is about 2.8 trillion. Every time it reaches this level, there tends to be a significant drop the following month. This time, BTC's movement makes me question whether this could be the peak of a bull market. It has always been this way in the past; I don't know if this time will be different.

From the daily chart perspective, the current trading volume at this high level is substantial, and the pattern looks decent, with no signs of a pullback seen yet. But it's already so high; I really recommend reducing positions on rallies. No one can capture all the profits; at the very least, one should learn to move their stop-loss to secure profits.

Regardless of rises or falls, there will always be criticism. But the important thing is, how can we survive in the crypto world long-term and continue to profit? If you think others are unreliable, then just trust yourself.

If there's anything you don't understand, click on my profile, and I'll be waiting for you in the circle.