Bitcoin is currently still in a strong cycle, and the daily level upward channel remains intact.
This round of correction feels more like a technical washout, with key support looking at the 108K-110K range. As long as it doesn't break down effectively, it is highly likely that we will welcome a more intense weekly main upward wave.
The market is brewing the next wave of momentum to challenge the 140K mark. The longer the consolidation washout period lasts, the stronger the subsequent breakout often is.
It is important to note that when the price actually reaches the 140K target, there may be signs of a temporary peak, at which point caution is needed regarding the risk of a pullback after a surge.
The current strategy is very clear: maintain support levels and gradually position, waiting for a new round of rally.
