The market performance yesterday was actually quite robust, maintaining an advancing trend during the fluctuations, with slight movements completing small steps forward in the short term. In fact, there were quite a few instances of breaking through the $4200 mark, but these ultra-short-term advances were not included in the statistics. This also indicates that after understanding the laws of market movement, one can adopt corresponding strategies based on different patterns, resulting in quite considerable profits. This may explain why some traders can maintain a high win rate — a profound understanding of market dynamics and a wealth of accumulated experience.

Recently, the market has shown characteristics of oscillation and is essentially in a phase of adjustment and consolidation. The main reason is that the previous rise was too rapid and forceful, lacking significant pullbacks during that period, which led to gradually higher lows and progressively lower highs. From a technical perspective, a breakout at key levels is not far away. However, analyzing market sentiment and overall structure, the likelihood of weakness is greater. If the bottom is tested again, an M-shaped top structure will form, and after this pattern appears, it could further extend the adjustment, falling back into the previous oscillation range of 9.6. From a higher-level perspective, attention can indeed be paid to the support area of 9.6 to 9.4, but it is basically unlikely to be achieved this week; at least we will have to wait until next week or the end of the month for any performance. The likelihood of this trend appearing next month will be slightly higher.

Bitcoin is currently in a critical phase of technical adjustment, and investors need to be patient and observe the new opportunities arising from changes in market structure.