After last night's surge and subsequent pullback, there was a small volume rise, and it is uncertain whether the 106 level has been effectively broken.

What can be clearly observed is that the momentum of this rise is stronger than that of the previous pullback.

Assuming this is during an uptrend, such momentum could break the previous high of 110,000, but there is a high possibility of a false breakout at 120,000. According to the MACD indicator, the large momentum is declining, and there isn't excess capital to guarantee that this is a bull market; the possibility of the next one is much greater.

In the short term, I am bullish; this time the altcoin season will not come, as funds have all flowed out. This month, the rise of Bitcoin cannot drive altcoins, which has already proven that liquidity is exhausted.