AUCTION this wave of market looks a bit interesting. From the recent trend, this upward cycle has been quite prolonged—about half a month, with a rise of around 50%, which honestly isn't very aggressive.

The key turning point occurred on the 7th. After the price peaked that day, there was a clear spike, followed by two consecutive days of decline. Although there was a rebound today, it failed to break above the previous high again, and this detail is very important. From the volume and pattern, this looks more like a typical trap rally—quick rebound to absorb buy orders, then a retreat.

What's more interesting is that the funding rate has already turned negative. This indicates that bullish sentiment in the market is waning, and bears are accumulating positions. When the rate shifts from positive to negative, it usually signals a potential change in direction. Coupled with the price resistance at the high point and the volume, the probability of further decline is indeed increasing.

If you're bearish, this current position is indeed a good entry point.