#比特币价格分析 Looking back at the Bitcoin price trends over the years, I deeply appreciate the importance of market cycles. The current situation is quite interesting, as a key turning point between bulls and bears is approaching. From a technical perspective, if the price breaks above $103,500, a bullish pattern will be confirmed; on the other hand, if a lower high forms at this level, there could be another wave of decline. It's worth noting that USDT's market share has broken above its long-term downtrend, and its supply is also shrinking, making a sustained rally under these conditions unlikely. On the other hand, there has been significant accumulation of positions in the $84,000–$85,000 range, with around 400,000 BTC changing hands, indicating that large holders are likely accumulating at lower levels. Historical experience tells us that during such times, it's even more important to stay calm and closely monitor the performance of the two resistance zones: $94,000–$98,000 and $101,000–$118,000. In any case, maintaining rationality and controlling risk are the keys to long-term success.