#山寨币市场回暖 BTC The momentum for this surge to 110,000 is getting stronger.

Let's talk about where the bulls' confidence comes from—on the macro front, the CPI data from the U.S. came in lower than expected, and the market immediately sensed the possibility of the Federal Reserve lowering interest rates. This is like a warm gift for risk assets. More interestingly, on-chain data shows that some institutions are quietly accumulating during the price correction, indicating a clear signal of long-term capital entering the market.

But the bears are not to be underestimated. From the technical charts, we can see some unfriendly signals, such as the evening star and shooting star bearish patterns, indicating significant selling pressure above the key resistance level. On the funding side, the BTC spot ETF has seen outflows in recent days, and there is indeed selling pressure in the short term.

Here are two approaches for operation:

**Bearish outlook**: You can look for short opportunities in the range of 108000-108500, with the first target at 107000; if you're aggressive, you can aim for 105500. Set the stop-loss above 109000 and don't hesitate.

**Bottom Buying Strategy**: Consider buying long when the price retraces to around 104200-104600, with the first target at 106300, the second target at 108000, and a stop loss set below 103000.

A few reminders: Recently, the volatility has indeed been significant, and no single position should exceed 5% of the total capital. Keep at least 30% cash on hand to deal with black swans. When it comes to stop-loss, don't be soft-hearted; if you need to cut, then cut. For taking profits, it's recommended to reduce half of the position at the resistance support levels first, and the remaining can be a gamble on a breakout.

The crypto market is inherently stimulating; managing risk is more important than predicting market trends. The above is just my personal review thought process and not investment advice.