Since we bottomed BTC near 99800 last Monday night, it has surged to around 108800 this morning, marking a rise of 9000 points for BTC over the week. Throughout the previous week, BTC has been in a slow upward trend without retracing to key levels like 0.618 and 0.786. I have repeatedly emphasized that the daily chart remains in an upward trend, primarily focusing on long positions, and taking short positions near resistance points can be a quick trade.

Currently, the most important resistance above 108800 is the previous high of 112000. Since first approaching 112000 on May 22, it has been over a month of consolidation. A breakout here would be akin to puncturing a hole in the sky, leading to a massive upward movement, potentially soaring 30000 points in the next three months. Although there is some resistance around 109400-110000, for the medium-term trend, it's just a short-term short point. Therefore, to be safe, short positions should be light and executed quickly.

Many people are self-satisfied thinking that institutions are bullish, and that the market will keep rising over the next few years without any significant drops. Just listen to this. I firmly believe in the market law of the long-term bull and bear cycles. The second half of this year will surely reach a peak. During Trump’s first term in 2016, both gold and the US dollar experienced a rare dual rise, and by the end of 2017, Bitcoin reached its peak. In 2017, the tariff policy was implemented, and the following year, the capital market entered a bear market. This backdrop is similar to the current situation. Do not underestimate the power of increased tariffs; you will see its effects next year.