Jiang Zhuoer: Bitcoin's 'bulldozer-style' rally is not recommended for top-picking; wait for a pullback to trade on the right side
51 minutes ago
Jiang Zhuoer, founder of BTC.TOP Mining Pool, wrote that when Bitcoin climbed to $84,000 at 5 PM today, technical patterns indicated it was unlikely to mark the cycle’s peak, with the price later touching a high of nearly $86,000. Currently, there is a notable order book gap in the $85,000–$88,000 range, while the $82,000–$85,000 zone also lacks sufficient orders, making trading risky for both long and short positions at present. In the current "bulldozer-style" rally, attempting to catch the top is not recommended unless the price consolidates at a high level for a period before a sudden sharp 1-minute surge, as the success rate is relatively low. Instead of chasing the absolute peak to sell, traders should forgo some profits appropriately and wait for a price pullback before executing a right-side trade.
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