There’s a point in every strong move where the psychology shifts. Everyone who positioned early starts thinking, “Okay, we’ve had a good run. Time to cool off abit. Surely we retrace from here.” They take profits, and honestly, good on them. This is where a lot of people make the same mistake, they take profits too early, then expect the market to retrace simply because they think it has to cool down. BTC is still 65% below the ATH. By definition, everything below that ATH is still a dip relative to the bigger move. The psychology usually plays out something like this, Longs start closing and taking profits. Shorts, many of whom already got wrecked on the way up, start revenge shorting because they convince themselves the market has to retrace. The market doesn't necessarily give them that retrace. Instead, it slowly grinds higher, shorts pile in, and eventually they get squeezed again. Then the people who sold too early start watching the market continue higher without them. FOMO kicks in. They end up buying back at a much worse price, often right into a local top. Instead of holding their initial entries from below. That’s the irony of a bull market... everyone looks like they’re winning, but psychologically, a lot of people are losing the entire way up. Some take profits too early. Some keep shorting every dip. Some become fixated on lower targets. Some refuse to flip their bias because admitting they were wrong is harder than holding onto the original thesis. So they end up shorting the entire move higher, getting squeezed repeatedly, and only turning bullish once the market has already made a monsterous move. This is why I’m not taking profits simply because it feels like we should retrace. I’d rather stay positioned and let the market prove me wrong than repeatedly try to predict where the “cooldown” is supposed to happen. In a bull market, the biggest risk isn't always being too bullish. Sometimes, it’s closing a winning position to soon.(Killa)