Record today's thoughts. Bitcoin has entered a new round of upward trends, with a target bottom of 128,000 and a high of 132,000. This range, then it will start to move sideways. This range is the distribution and turnover zone. Remember, risk assets will definitely be sold off. However, this range is not the top; the top should return to around 158,000. This range is meant to eliminate the short positions of institutions and retail traders from the previous range, then establish short positions. Of course, it won't go directly from 132,000 to 158,000; at least it will go from 129,500 to 158,000. This 28,500 points will definitely be a quick up and down, and there won't be much chance for adjustment. Then the bear market will begin. The time node should be from the next interest rate cut. The expectations for the last interest rate cut before the actual cut will surely lead to a crazy FOMO. Once the interest rate cut is implemented, it will be gone forever. Maintain a strong belief for the long term. Adjust your mindset.