Today's market Today is quite a day, let's talk bit by bit Let's talk about the chain first . 1) In the past few days, there have been a large number of old and new coins being sold and exchanged for profits every day. Yesterday was another realized theory worth 1 billion The daily profit selling pressure is still relatively high, but it is gradually falling back every day. 2) In the past 7 days, the holdings of LTH's long-term holders have decreased by over 50000 coins, while the corresponding short-term holders have increased by over 50000 coins. That is to say, old coins are sold and new players take over. The person who took over also found a buyer, and the net inflow of ETF in the past 7 days was 2.5 billion yuan At the latest price, it would be around 30000 pieces The magnitude of the reduction in holdings of old coins is roughly equivalent. So it's like gaining profits from old money, and ETF funds take over. All the transactions are OTC, so there are not many seen on the exchange. 3) The two bull and bear models on the chain are currently in the city of Niu The overall structure has not been damaged (Figure 1) 4) Currently, it is still above several important bull bear lines on the chain (Figure 2) The latest is the true average price (TMM - cycle bull bear boundary) at 76k The average cost of short-term customers (short-term bull bear boundary) is now at 69k 5) From the distribution of URPD chips Last Friday to the weekend, we completed a fierce switch of hands on the chain above 77k URPD has just switched hands and created a peak of over 100000 BTC (Figure 4) This will become a fiercely contested area for long and short positions when inserting (At the same time, this is also near the true average price of TMM mentioned above) It is also a densely populated area for pending contracts It's worth squatting a little lower. ------ Conclusion: So overall on the chain, the multi head model has not been disrupted. The general direction of thinking can switch from hitting high altitude to stepping back more. However, due to the ongoing profit selling pressure on the chain, the best possible wave of upward movement has already passed. Next is a period of oscillation/insertion/up and down killing time. If you want to continue charging upwards, you need to stand firm at 80000 I only stood there for a few hours on Tuesday . Step back below and focus on the top of 77k