BTC is currently finding support at the 4-hour MA20 level, in a correction phase after an upward move. In the short term, if this level can be maintained, there is a high probability that it will challenge 98,000 again—top formations are always gradually built. The resistance zone above around 101,000 is particularly dangerous because the weekly MA20, MA60, and daily MA120 are all converging there, creating heavy resistance. My idea is to consider short positions around 101,000, but only if the market can break through this area. Once broken, it would indicate that the bull market pattern has reversed, and a new high is very likely to be reached. Conversely, this rebound is just a consolidation before a major decline, with one last drop still ahead. In plain terms, around 100,000 is the critical line for BTC, holding great significance.

Recently, I’ve noticed that CHZ has been performing quite strongly. Interestingly, when BTC falls, CHZ tends to rise counter to the trend, forming a perfect hedge effect. Last night, it even broke out independently, directly surpassing the top of its ascending channel. Although there has been some pullback now, it has stabilized, and there is still potential to push toward 0.07. This level coincides with the MA120 zone, and whether it can pass through smoothly depends on market performance, which may encounter some resistance. Long position holders can continue to hold, patiently waiting for the breakout moment.