Last night, Bitcoin surged to around 89,500 before pulling back, but importantly, it did not drop back to near 87,000. This detail indicates that the bottom support is indeed strengthening.

Looking at this momentum, the probability of starting a new upward cycle in 2026 is quite high. Currently, around the 88,000 level could be considered for entry, with a stop-loss set below 87,500, and the target is temporarily undetermined.

This period has really exhausted retail investors. Hope in the morning, despair by noon, and more falls in the evening. Many have gone from hope to disillusionment. Market liquidity continues to shrink, retail investors have long since exited, and market enthusiasm is cold. If there isn’t a rebound soon, the market’s heat really should be reset to zero.

Ironically, everyone keeps shouting to hit 180,000, but instead of a surge, a sharp decline came first. Recently, I’ve been defending the 80,000 level; it looks like it’s about to break. Personally, I feel the chance of a reverse rally is greater. Of course, this is just a feeling—sentiment indicators have already dropped to a desperate level of 20, indicating that the space for shorting is very limited. Continuing to dump isn’t very meaningful anymore.

That’s how the market is. Sometimes you think you see through it all, but in reality, you see nothing. What about those coins you’re trapped in? Anyway, I’m starting to feel a bit exhausted.