Since late May, Bitcoin has undergone two rounds of adjustments of about 10%. It is now again at the upper edge of the upward channel. If there is another similar magnitude pullback in the short term, the price is likely to fall around $99,500. This is likely the last opportunity to 'get in at a low position' in this round of the market. After three adjustments, the true main upward wave is expected to start.

Since Bitcoin first broke through $100,000 last year, the entire market has experienced a long 8-month period of consolidation, including washouts and sideways movement. This kind of consolidation is not a meaningless tug-of-war, but rather a buildup of strength for a larger trend. With the successive advancement of stablecoin legislation and the 'Big and Beautiful' legislation, $100,000 is just a new starting point, not the end.

In terms of rhythm, this year's trend is similar to last year's, focusing on building and breaking through key platforms. Last year's task was to break through the historical high, while this year's goal is to firmly establish above $100,000 and open up space for further upward movement.

If this platform is effectively broken, the next important target area is around $130,000. From the current structure, this is a clear progressive rhythm, not a blind bullish outlook, but rather a natural evolution of the trend.