$BTC Technical Analysis

1. From a higher level perspective, the uptrend of Bitcoin has not deteriorated. Objectively speaking: during this period, in the judgment of whether this is a continuation of the uptrend or a process of topping, one should default to considering it a continuation of the uptrend;

2. However, from an operational perspective: 1) chasing highs is always a tough situation; 2) taking profits and selling high is never wrong; 3) similarly, to state facts, the difficulty of operations after entering a consolidation zone is much greater than before. Many times, the price of Bitcoin may not change, but the position is gone;

3. Currently, from the rise starting at 114908: 1) it seems to be forming a push pattern; 2) it has rebounded to the 0.618 position of the last segment of the decline; this kind of movement gives 114908 the possibility of forming a bottom, requiring further observation: regarding the pullback strength of this rise, as long as it does not break below, it will be a relatively high-cost-performance opportunity to enter.