From a small-scale structure perspective, Bitcoin:

1. Overall, it still cannot escape what I once said, that 100,000 is a position where major funds will definitely take action. The highest point of 108,353 did not escape the gravitational range of the 100,000 integer level. The first reason is that the trading volume is not large enough, and the second is that it did not move far enough away; therefore, it has gone down, and it is normal for it to fluctuate here;

2. Current trend one: starting from 92,520, a new upward movement begins, so the first condition is to break through the previous high of 99,488 on a small-scale K chart to form upward momentum;

3. Current trend two: from 108,353 to 92,233 is the first part of the decline, from 92,233 to now is the second part of the decline, and there will be a third part of the decline to follow;

4. Since we have already analyzed the key points of the two trends, we can formulate our trading strategy around these points and trends, with a good risk-reward ratio and clear take-profit and stop-loss levels.