Looking at the daily chart, since the larger cycle has already unfolded, we observe a trend of price pullback and adjustment after breaking above 11. The daily chart has formed a large M-top, and during the second rebound towards the 11 level, it was continuously suppressed, creating an M-top correction downwards to 97000-98000. When Bitcoin surged, it did not continue to decline effectively. In the short term, we see that it has found support here, showing a pullback from the highest point of 110000 to currently around 13000 in pullback space. The effective rebound has surged, and the current price is near 101000. From the market perspective, the trading volume has actually kept up, so the current rebound is a normal situation. I have also mentioned that in any scenario, it cannot continuously surge or decline; there will definitely be a process of trend adjustment. Currently, we are looking at whether the rebound can support a second retest of the key levels below 98000-97000 to form two rounds of upward movements. If the rebound is effective, we will see around 101000-101500, with the maximum rebound strength exceeding 103000, which would create an illusion of upward movement, leading to a sharper decline afterwards.
Floating around 101000-101500 with a hundred points up and down, looking down at 10000-98500-97500
