This week, Bitcoin experienced a three-day rise, reaching a historical high of 118,800, mainly due to stimulus from certain news in Hong Kong and Shanghai, causing many institutions to buy crazily, which triggered market sentiment.

Starting from last year, it has been said that the current market is institution-led. This time, however, institutions have taken the market to a peak, while retail investors? They either got washed out or exited midway. Even if you correctly predicted the trend, how many could actually catch the tail end of the rally?

Currently, 120,000 is a psychologically important resistance level, just like 110,000 was back then. How many times has it fallen back after being pressured at the 110,000 mark? So, this time is likely the same. The whales won't make the market rise so perfectly. Only by entering the market themselves can they catch the turtles in the jar. When market sentiment is exuberant, and retail investors turn around to chase the rise, that's when institutions are unloading their positions...

It has been emphasized on Friday that 110.88 may be the highest point of the week. Although there is a high-level adjustment over the weekend, there is still one day left before the close. If it cannot break through 120,000 around 2 AM on Monday, then a correction will begin next week.

Over the weekend, focus mainly on low long positions as much as possible, but currently there are no entry opportunities, only able to continue shorting at highs, and keep an eye on the resistance around 118500-118800. #BTC#