Is the Bitcoin breakthrough of 100,000 just a fleeting dream?

Yesterday, we all witnessed the historic moment of Bitcoin breaking 100,000, and the breakthrough was sustained, reaching 104,500.

Then it began a long period of sideways movement. The daytime trading yesterday was quite rewarding, with each round being well captured. In the evening, I was too busy and hesitated, so I didn’t update the strategy. Bitcoin started to spike in the early morning, briefly dropping to around 90,000. How many people's positions did this spike break?

Currently, Bitcoin is quoted around 97,500, and it is evident that after this pullback, the momentum has begun to weaken. Is this breakthrough a fleeting dream or a mirage? In reality, it is not. After the early morning washout, most of the positions have been cleared. This is unavoidable; as the saying goes, no coin lasts forever, just like historical nations. The bullish trend of this week has passed. This decline may lead to a round of oscillation downward to repair the market trend. Whether it can rise above 100,000 again is a matter for the future. In the short term, everyone should avoid chasing the momentum.

Ethereum is currently quoted around 3,860, and Ethereum is expected to outperform Bitcoin, but the overall trend is still synchronized with Bitcoin. Ethereum will also undergo a round of pullback this week, and the overall trend will mainly focus on oscillation downward to repair the market.

Trading suggestions:

Buy Bitcoin near 98,000, target 95,000.

Buy Ethereum near 3,880, target 3,800.

If the breakout trend continues, it can be further watched down. Specific details should be based on actual performance.