Recently, Bitcoin has been breaking new highs continuously, starting from yesterday it surged to 108,000, and then pulled back by 5,000 points.

It is still lingering at this position.

The bottom is at 102,000, which everyone should pay close attention to.

Many people predict that the bearish cycle has begun again. Analyzing from a technical perspective, we can indeed see the lower positions through support and resistance.

However, as the market has developed to this point, technical analysis can only account for 30% of the influence; more is determined by sentiment and the buying behavior of Wall Street capital.

Because it's still the same saying, in a bull market, don't short when bearish; a drop is an opportunity to buy the dip.

As long as the upward structure is not broken, we should remain firmly bullish.

The continuous rise of Bitcoin has created a vampiric effect in the crypto space; if Bitcoin can consolidate at this position, it will undoubtedly provide an explosive opportunity for altcoins.

The next decisive factors influencing the market will not be on the technical chart, but in market sentiment and the strength of capital inflow.

Currently, the capital led by BlackRock is entering the market very decisively, with ETFs continuously flowing in, stabilizing the market.

For retail investors, it is not advisable to chase high prices right now, as Bitcoin has risen too much; instead, opportunities lie in Ethereum and other altcoins.

When operating, everyone should try to avoid short-term contracts, as the current market is highly volatile and it's easy to hit stop losses.