Last night, BTC fluctuated around the range and broke through in the early hours, surging to around 124000 before facing resistance and retreating. It is currently consolidating around 123200. Our low long positions in BTC and ETH have all been realized as expected.

From the current market perspective, during the previous deep pullback to around 120516 on the 4-hour chart, a small bullish candle and a doji formed a clear structure indicating a stop in the decline and stabilization, with bearish momentum significantly weakening. Subsequently, during the rebound process, the bullish candle's body gradually expanded, and the buying strength continued to enhance; although a pullback occurred on the daily chart, most of the lost ground was quickly recovered, and the price returned to the high range. The early morning rebound has formed a preliminary reversal pattern. Currently, it is still unclear whether it can break through the key resistance in one go, but the short-term bullish trend has continuity. The outlook for the market can continue to treat pullbacks as opportunities to go long.

BTC retracement near 121800—121300, looking up at 124000-125000, if it breaks through, then look up at 126000. #美联储降息预期升温