Now Bitcoin's position is a bit awkward. Many people were trapped at this price level before, which is equivalent to a lot of people standing guard at the peak.

It's like a group of people stuck at the door wanting to break free; without any significant movement or long-term accumulation of energy, it won't be easy to rush out. Either a major positive news needs to come suddenly, or it has to adjust honestly for a few months to gather enough energy.

From a technical perspective, this rebound has already touched the key level of Fibonacci 0.618 (which is roughly the resistance level). The possibility of directly rushing to $100,000 in the short term is unlikely.

The focus should be on how the market moves in May, and tomorrow the blockchain conference in Dubai is about to start. In recent years, there has been a curse that conferences often lead to declines, so this risk should be taken seriously.

An important indicator is the 120-day moving average, which is currently around the position of 91,700. The price is still hovering around this line, looking okay in the short term, but if it breaks this lifeline one day, many people may panic and sell indiscriminately, and that would be an ugly scene.

In terms of operations, a reminder for everyone: the higher Bitcoin goes, the more you should sell in batches to secure profits; don’t be greedy. If BTC starts to move sideways, those altcoins might have a chance, so keep a closer watch on them. But remember the bottom line principle: if it drops below the 120-day moving average, don’t hesitate to reduce your holdings; preserving your principal is the most important. The current market condition is like walking on a tightrope, so be prepared for both sides at any moment.