Yesterday was another lively day. Emotions continued to ignite, and retail investors felt a sense of breathlessness. Influenced by the US stock market, BTC continued to surge. Recently, almost all retail investors are engaging in emotional trading, regardless of the US stock market or the crypto space. In any case, retail investors in the financial sector are often referred to as 'chives'.

Currently, from a daily chart perspective, BTC has not effectively stabilized at the key level of 97600; if it can't go up, it can only go down. The volume from yesterday's surge was insufficient, and large funds did not enter the market; it should be another operator's scheme. Institutions will also take long and short positions, just hunting each other.

Today, there should be a pullback; the MACD has crossed downwards, still indicating a bearish pattern, and risks are always present. Moreover, the daily chart has shown a top divergence for a long time, which is actually a bad signal. The strength of the operator's rise is weakening, while retail investor sentiment continues to push for buying. As for why it hasn't immediately dropped, one can only say that the operator's goods have not been sold out. At such times, from a technical perspective, it is advisable to sell more as prices rise. The operator is suspected of distributing chips at high positions.

On the hourly chart, it has broken below the middle Bollinger band, with short-term support at 94000 and near 91000. Resistance is around 97600 at the upper level. Currently, the short-term level has not stopped declining.

As for spot players, they need to take time to wait; cyclical layouts indeed require patience.

Currently, the sentiment indicator has entered extreme greed. If I were to advise, I would suggest not to go long. When things are precarious, it's better to lie flat. Or this is not the time to bottom fish.

As for those with good technical skills who want to trade short-term, I won't stop you. After all, the trades are in your hands, and profits and losses are your own responsibility.

Recently, some old coins have indeed skyrocketed, proving that the old ginger is still the spiciest. From this point, it can be seen that ETH still has great potential in the future. As for whether to get in now, I would say to wait a bit. At the very least, we should wait for a pullback. On the daily chart, there is support near 3320 for the Bollinger band. However, if it falls below 3200, it is still recommended to stop losses.

In this circle, earning more is not as good as living longer. Patience is definitely one of the best strategies. Missing out and chasing highs are just cyclical rises and falls. For us retail investors in the crypto space, the risk to principal is always the top priority. If you can set stop losses, you have already surpassed 99% of people.