Recent market conditions are truly extreme and unprecedented. I looked at the bearish side, and a position of 5 billion USD is just stacked above, almost like openly telling everyone that the big bears are sharpening their knives and ready to break through. But under this extreme situation, the bulls have been almost completely wiped out, those who should run are running, those who should get liquidated are getting liquidated, and buy orders are almost nowhere to be found.

This is no longer a phase of consolidation; such a level of imbalance between bulls and bears has entered an extreme unilateral state. The upcoming trend, frankly, will go to two extremes. One is the 5 billion USD short position being crushed, triggering a chain of liquidations, with a large bullish candle rising sharply, and blood flowing in the bear camp. The other is the sell-off breaking through the last fragile support, leaving the bulls utterly hopeless, starting a waterfall-like plunge.

In this market pattern, there's no more room for gentle fluctuations or sideways movement. Such a level of imbalance will definitely end in a very brutal way—either the bears are completely uprooted, or the market plunges dramatically, with little room for buffer in between.