Is 100,000 really the peak of this bull market? The recent market has also been on a downward trend, falling from the previous high of 99,600 to the current low of 91,500. This inevitably raises doubts that 100,000 is indeed the peak of this bull market. However, this is not the case. First of all, a trend will not reverse in a short period of time. Since the previous surge, there has hardly been any significant retracement space. The prices have been rising directly without any hesitation. The recent retracement can actually be understood; after such a long rise, a new ascending platform needs to be built rather than rushing up mindlessly like before. Secondly, after rising by several tens of thousands of points, is it too early to declare a trend reversal with a drop of less than ten thousand points and that the bull market is over? However, recent volatility has indeed been quite large, and there are opportunities for both long and short positions. Today, we focused on both sides and made good gains, capturing over 4,000 points, and Ethereum gained over 80 points.

From the current market perspective, today's wave of market change and pullback, after probing down to the support below, rebounded, causing the market to re-enter a state of oscillation and tug-of-war. But no matter how many times the market goes down, bears find it hard to take action as there have been no substantial breakthroughs, and each time is accompanied by a rebound. Based on the recent structural patterns, the market still has the momentum to probe higher again. The short-term trend hasn’t changed much, mainly focusing on oscillation and adjustment. The market rebound hasn't been sustained, and currently, the trend seems weak, and there is still a possibility of a pullback, but the space won't be large. Overall, the trend still leans towards bullishness, and the strategy remains to focus on support below to carry out long positions accordingly.

At midnight, Bitcoin is directly long around 92,300-92,000, targeting 95,000. Ethereum is directly long around 3,250-3,230, targeting 35,000.