Based on the Bitcoin market and dynamics on May 12, 2025, the following operational strategies are formulated:

1. **Entry Timing**: Currently, Bitcoin is priced at $103,864, situated at the key support zone of $104,000. If the price retraces to the range of $101,500-$102,000 (with $1.3 billion in buy orders for support), positions can be built in batches.

2. **Breakout Following Longs**: If it stabilizes above $104,000 and breaks through the resistance level of $106,000, a light position can be followed, targeting $110,000, with a stop loss set below $103,000.

3. **Risk Control**: Market volatility will increase before the CPI data is released (May 13), avoid high-leverage operations; if the price falls below the support of $101,000, it may trigger technical selling, necessitating a stop loss to exit.

4. **Position Management**: The short-term RSI is approaching overbought levels; for long positions, dynamic profit-taking is recommended (referencing the 100-day moving average of $99,200), retaining some positions to speculate on the positive developments of Sino-US trade negotiations.

*Note: The current Fear and Greed Index is 70 (Greed), caution is advised against massive shorting by whales and the risk of market sentiment reversal.*$BTC