The viewpoint remains unchanged; we do not choose to bottom out here. Bitcoin can only be called a B-wave rebound at this moment. We will continue to wait. If someone managed to catch the rebound at 4000 points for Bitcoin, congratulations to you. However, currently, it seems that 112000 is not the bottom. ETH should at least wait for a second bottom to observe. This time, the ABC three-wave pullback for Bitcoin has nothing to do with the month; it has just reached this point in the market. It's not about carving a boat to seek a sword. At each critical node, volume, price, and time will all experience changes. Of course, those who bottomed out around 3400 yesterday might have made a good choice, as there are fewer short positions in a bull market (I provided this pullback expectation at the 3400 position ten days ago). However, looking at the big picture from August to September, if the Federal Reserve's interest rate cut in September has already been priced in, global capital will have priced in the rise of US stocks. Now the question is whether US capital should price in the economic recession. In the short term, there is at least a 50% probability of a pullback in demand. Additionally, from the K-line pattern, a phased pullback for Bitcoin is necessary. Bitcoin and ETH still maintain faith. When it reaches critical points, one should still enter, but here I choose to observe for a period. There are also some opportunities for short positions. A few days ago, I mentioned that Bitcoin assets can no longer be defined by bull and bear markets; they should simply be defined as crypto assets. There will definitely be buyers for value gaps, and a phase of bulls is sufficient.

Bitcoin faces significant resistance around 116000 and ETH around 3650. We need to stabilize here to form a reversal trend. For SOL around 168, I generally look at trends above 20000 points for Bitcoin and above 500 points for ETH. I will also trade short-term, but short-term requires flexible handling. Balancing long and short positions well is essential for sustained profitability.