Oh, if Bitcoin breaks below 112,000 here, I will exit completely. This market is too insane. Bitcoin has consolidated for half a year and has broken new highs, while Ethereum has increased nearly threefold from its bottom. As a result, most altcoins are still hitting new lows, and the difference between Bitcoin's new high in 2023 and the new high in November last year is too far apart. Those times saw broad increases, with the worst being a doubling. It seems that exchanges and altcoin projects have also realized that retail investors in altcoins are all trapped, and they won't pump prices to cash out. People outside won't enter this distorted market to give money to exchanges either.

Market Analysis: After a major five-wave move of BTC, there is an ABC three-wave correction. The low point of this ABC three-wave may be around 106,000. The lower bound for ETH on the daily chart is 3,170, which means that above 3,000 are key retracement levels for ETH in August. In the third chart, I mentioned ETH 3,400 a few days ago, and it was reached early this morning. Currently, this is definitely not the bottom; we cannot buy the dip here yet. We need to wait for the completion of BTC's ABC three-wave correction before buying the dip. At that point, we will wait for a major five-wave surge of ETH near 3,000 before the end of the year, with the peak likely around 4,600. As for those who were overly optimistic about ETH 1W a few days ago, that was too blind.