The initial phase of this bull run seems to be nearing its end, and the market is likely to enter a long-term consolidation period, with a significant pullback possibly occurring. If a substantial fall occurs, I believe attention can be paid to the key level of 108000.

From now on, we need to maintain a cautious attitude towards any positive news in the market: the upward potential may already be limited. Certain hot topics or so-called favorable events may only trigger a brief 15-minute market movement—after the first candlestick rises, it is likely that it cannot be sustained into the second one; chasing in at this time may instead lead to being trapped.

If you haven't made a profit in this market cycle, there's no need to be overly anxious. In a bull run, impatience is often one of the main reasons for losses. Many people aren't lacking in opportunities, but rather because they rush to chase highs and trade frequently, they end up exhausting the profits they could have originally gained.

Next, the focus should not be on 'chasing the rise', but rather on ensuring that you can 'survive'. Do not fantasize that there will always be opportunities to seize; sometimes the wisest choice is to observe, maintain cash, and patiently wait for the next truly valuable investment opportunity to arise.

The current market seems to have entered a stage of 'realizing expectations and reducing high positions.' Many investors are waiting for the moment when good news is realized to sell, rather than continuing to push prices higher. Therefore, if the timing is not managed properly, chasing in could lead to being trapped at high levels.

Stay calm and don't let the market's noise affect your judgment. True opportunities never come from frantic chasing, but rather from patiently waiting. At this stage, wise investors should focus more on risk management rather than blindly pursuing short-term gains.