No matter how well you are doing elsewhere, here, profit and loss are the only measures of success. It's not about quantity, but quality. If the direction is wrong, stopping is progress. Instead of stubbornly persisting, it's better to find a big tree to take shelter under!

Let's briefly review yesterday's market and operations. After Bitcoin surged in the early morning, our analysis emphasized the continuity issue of the market after the early morning high. Given that the overall trend remains strong, we judged that we should first look for a pullback to confirm support before considering a bullish operation. The outcome of the market movement was actually quite similar to our expectations; there was a pullback, and after testing around 103200, the market rebounded again, showing strong performance and refreshing the high point. In our operations, although we missed participating in the short position during the first wave of the pullback around 105300, we were still able to perfectly position a long order near the pullback starting area around 103500, and the final result was a continuous rise, yielding good profits.

There’s not much to say about Bitcoin on the daily chart; it continues to show strong performance. The changes in market funds are also evident, with institutional whales still showing strong buying sentiment for Bitcoin, and the high points continue to be refreshed. On a macro level, there hasn't been much change; what the market is most looking forward to is the announcement of interest rate cuts, but this is already a certain event for the market. Therefore, the trend is irreversible; it just depends on how it performs.

On the four-hour chart, after another surge, there is still a need for adjustment in the cycle. The indicators are running at relatively high levels, and the market is in a high-level consolidation. To be honest, this position is not very suitable for short-term operations, as the continuous rise has led to a reduction in bullish momentum. Additionally, each time a new high is reached, it is accompanied by some selling pressure to counter the bulls. Overall, the best approach is to wait for the short-term adjustment to end, confirm support on the pullback, and then plan the next operation. For short-term trading, wait for a pullback to occur, and consider a short position around 106800. In a strong market, shorting must strictly enforce stop-loss risk control, using the high point as a risk control level, and then observe for a pullback. The support levels below are 104500 and 103500.

Ethereum is similar; the need for adjustment on the four-hour level is more evident. After refreshing the high point, it formed a top divergence, and its movement closely follows Bitcoin. However, once it starts to adjust, the magnitude is likely to be larger. Consider shorting in the range of 4030-4050, with short-term support at 3900 and 3800.

Altcoins have recently seen some adjustments, following the decline but not the rise, and are being severely drained by the market. Aside from a few active coins on-chain, most others are performing poorly. At this stage, it is more appropriate to wait for adjustments before acquiring lower-priced assets!

【The above analysis and strategies are for reference only. Please bear the risks yourself. The article is subject to review and publication, and market conditions change in real-time. The information may be outdated, and specific operations should follow real-time strategies.】

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