The recent trend of the Bitcoin (BTC) market has attracted attention. A trading expert who once worked on Wall Street shared his views on the current market situation. He pointed out that the current market conditions are quite similar to those in April and may be in a Whipsaw phase.

Experts believe that the current market lacks sufficient spot buying volume to support a sustained price increase. He predicts that even if positive news pushes prices up, they may quickly fall back. It is worth noting that the Relative Strength Index (RSI) has fallen below 50, which is typically seen as a signal of a bearish trend.

However, experts do not believe that the current price has peaked. He estimates that the price of Bitcoin may first rise to the range of $117,000 to $118,000 to squeeze out some short positions. After that, the price may fall back to around $100,000, entering a consolidation phase, which may be an opportunity for large funds to accumulate chips.

This analysis provides valuable market insights for investors, but also reminds us of the unpredictability of the market. For investors looking to participate in Bitcoin trading, it is crucial to closely follow market dynamics and understand the potential risks and opportunities.