Based on the current market behavior and price range (i.e. $57,000 to $74,000), we have reason to believe that this is not a typical top area, and everyone can continue to auto-invest in the BTC and strong altcoins.



First of all, from a technical point of view, the current price action does not conform to the traditional top characteristics. Tops will usually have a longer formation and a wider distribution of price levels. In short, the current price dynamics of Bitcoin look relatively limited in terms of time span and form level, which indicates that the market dominant forces may not have completed sufficient dumps and still have the potential to pump up.

Second, regarding market sentiment, we do not see a favourable information milestone that accompanies the current price highs. This lack of strong peaks in market sentiment usually indicates that the market has not yet entered a phase of prosperity to decline. This suggests that market sentiment may still be on the rise and has not yet reached its peak.

Finally, regarding unfavourable information in the market, history shows that bull markets rarely collapse when encountering unfavourable information. On the contrary, Unfavourable Information is more long used as a Whipsaw tool in the market. In the current market environment, even in the face of some unfavourable information, these are often seen as opportunities to enter the market rather than the end of a bull market.
BTC-1.57%
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