Bitcoin's recent position started adding positions from the 869 cost basis, with a relatively heavy allocation. After reaching 89, adjustments were made. The big spike this morning is indeed worth noting—such sharp pullbacks often require a consolidation period to digest, which is why it has been sideways for a day. The originally planned 98 level as a profit-taking target has now been partially achieved. The next step is to make the position more comfortable so that more possibilities can be seen clearly moving forward.

From a minute-level perspective, the nearly $10,000 trading volume in 1 minute correlates with the $11,000 volume seen on the 21st. Although currently just a consolidation pattern with a pin bar, such a large volume often indicates that the upward space won't be too far. The key point is that it’s unlikely to break this level again, suggesting market participation in this zone has reached a critical point.

The distribution of liquidation chips has become the next focus. Close monitoring of the short positions around $97-$98 is necessary—if the accumulation is dense enough, logically, there is room to clear out high leverage completely before moving downward, which makes sense.

The 12-hour golden cross has just formed, indicating no downward pressure in the short term. This golden cross needs at least 4 consecutive 12-hour candles to sustain, and it’s expected to extend into next week before completing. This cycle aligns with the weekly golden cross pattern—usually supporting a 3-4 week upward cycle. Therefore, from a timing perspective, a top is unlikely to appear so soon.

Regarding the three main mainstream cryptocurrencies, the technical framework from the 12th remains unchanged. Ethereum’s performance around the $3380 resistance level is critical; after testing the triangle support, the probability of another rally is high. This approach remains consistent.