BTC made a strong surge to around 104300 in the morning, with a strong bullish atmosphere and bears defeated. This round of explosive growth is driven by news, breaking away from technical norms. Since the early session yesterday, bulls have pushed up by 7000 points, and the current risk of chasing the rise is high; it is recommended to look for a pullback at high levels. In terms of operations, short near the rebound at 103000-103800, targeting down to 101000-99300.