Observing the major trend of Bitcoin, this expected script is basically a perfect match.

**Wave 1**: Rise to around 95K (actually reached 94,760). The market did not truly stay in the 95K range, it jumped directly from 94K above 96K.

**Wave 2**: Pull back to the 88,888 level (actually 88,242). This is a key support level.

**Wave 3**: Rise again to around 98K (reached 96,863). Then continue to test the 98K top.

**Wave 4**: Deep decline to around 91K. This wave is a major harvest, with high-leverage longs being washed out directly.

**Wave 5**: Rise to around 105K. Why? Very simple—pre-holiday hype. Once the market looks hot, crypto enthusiasts will crazily participate in various small coins, regardless of whether they profit or not, becoming free promoters. Coupled with the psychological expectation of returning home for the New Year, emotions will be fully ignited, and everyone will want to seize the opportunity.

**Wave 6**: After the New Year, it drops directly to over 70K. This wave is aimed at those with some savings in the market and dreams of getting rich overnight. Next year, in 2026, they will have to work again, add to their positions, and average down. By 2027, they will become new bagholders and 'spread ambassadors'.

This is the cyclical pattern of the crypto market.