From the bottom position of 83,000 about a month and a half ago, BTC is gradually approaching the initial rebound target set for January—100,000 yuan. It is now within reach, but opportunities and risks coexist here.

Above 100,000 yuan is a concentrated area of major selling that lasts for half a year, accumulating a large amount of trapped positions. This region has obvious resistance, and breaking through smoothly is not easy. From a technical perspective, the final landing point of this rebound should oscillate within the range of 99,000 to 107,000.

In terms of timing, February is very likely to be the end of this wave of rebound. Once the correction ends, BTC is expected to revert to a bearish trend, and close attention should be paid to changes in policy and capital flows.