From the daily chart, BTC has formed a reversal after a series of bearish retreats at the bottom and encountered resistance. It has created a bullish candle pump pattern. Although there were minor pullbacks in between, they did not prevent the further eruption of long positions, and it is just a step away from a new high, which will happen soon. On the 4-hour chart, BTC rebounded from the last retreat below the 100,000 mark, and then the long positions fought back, advancing steadily and breaking the rhythm of continued pullbacks, also forming an effective resistance breakthrough. Of course, during the rise, there were also accompanying pullbacks, but such pullbacks were merely to set the stage for another rally and provided more momentum for further gains. In the short term, the rise in the price ratio breaks the narrow range of fluctuations seen in recent days, and the upward momentum has not yet been fully released, so there will be further continuation of the upward movement.