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Bitcoin's operational trajectory is actually quite regular. Looking at the period from 2023 to 2024: Breakout → Trend continuation → Altcoin rotation, it's almost a textbook process.
Currently, the price is testing the key structure above again. This level is not set arbitrarily—it determines the subsequent pricing logic.
Holding this level means no problem, and the cycle can proceed normally. Once broken, the market's expectation framework will be pushed back, and the growth timeline will be extended to the end of 2026.
Cycles are not ended by a single candle but are instead released gradually. The question is—are we still in the expansion phase and can continue to rise, or have we already shifted to a transition period? This is the key to judging the next step.