Bitcoin is currently in a slowly rising staircase trend, with an overall strong tendency. The three key support points in the recent period are around 117300, 114000, and 110700. These three positions are critical defensive lines, while other higher support levels are relatively minor and have limited reference value.

I have mentioned before that the current rhythm of Bitcoin is 'sideways fluctuations, then continuing to break upwards,' so this phase is not suitable for short positions, especially in contract trading, where caution is even more necessary. If you really want to operate, it is recommended to use the 200 moving average on the 5-minute K-line chart as a reference indicator and follow its rhythm.

However, don’t just focus on Bitcoin; it is now more important to turn attention to Ethereum and some well-performing altcoins. In this round of rise, the real opportunities are likely to be with them.

When the market has a pullback later, be sure to seize the opportunity to buy Ethereum or some promising altcoins. If you really don’t know which ones to choose, as long as they are not particularly poor coins, the issues won't be significant. The most conservative approach is to continue holding Bitcoin, which shouldn't lead to major losses.

In summary, for those who should get on board during a pullback, hesitation and indecision may lead to missing out on the upcoming major market movements.