When I first joined the circle, I often heard people say,

Newbies fear volatility, veterans fear one-sided moves.
After five years, looking back at this sentence, it is truly a classic.
Do you see how Bitcoin reached 73000?
The most fundamental reason is that there is an unbelieving bearish traders as fuel.
From 43000 to 53000, some people have already started to look for a pullback.
The result is pulled to 63000.
About 80% of the suckers, who have experienced a unilateral market of 20,000 points, are waiting for a pullback.
As a result, the bearish traders came and died one by one, killing shorts all the way to 68,000, and the distance to 43,000 was exactly 25,000 points.
At this time, there are no bearish traders who are not wary. The last line of defense before the technical indicator becomes ineffective is the pressure level at the previous high of 69000.
The battle between long and short positions in this area is a classic example. Looking back now from the perspective of bearish traders, it was a close call for survival.
Because the defense point of bearish traders is around 69000.
The price of the token also gave face, touching 68686.8 in an instant and then starting to pullback rapidly, with a drop of nearly 4000 points in four hours.
For bearish traders, there are only four words: happy and excited!
I would mortgage the property certificate if I could!
Unexpectedly, just 8 hours later, the price of the coin once again reached 68000 and surged rapidly towards 69000.
A group of bearish traders felt a chill in their hands and feet, suddenly realizing that this was obviously a trap to short the market!
At this time, if you stop, you can at least redeem the property certificate.
When the price of the coin returned to 68600 for the second time, all bearish traders seemed to awaken their superpower of foreseeing the future and vaguely saw the scene of the price breaking the previous high.

At this time, it doesn't make sense to hold on any longer. Once the price breaks the previous high of 69000, market sentiment will ignite, and no matter how many bearish traders there are, it will be like an ant trying to stop a car.

The result is naturally obvious, when the vast majority of long bearish traders disarm Capitulation, and even some of them turn into bullish traders, the real butcher's knife also quietly descends.

Turn your attention to the newcomers who were attracted by the high price of 73000 Bitcoin recently. They probably can't understand why the price falls when they go long and rises when they go short, as if they are being targeted.

Actually, the reason is very simple. The old suckers have already been played for suckers by the one-sided market, and now they want to play the new suckers, so they need to create some fluctuations.