Bitcoin has started to pull back from around 98,000, and the current trend has entered a triangle convergence pattern. On the weekly chart, the bulls are clearly losing strength, and the bears are beginning to launch an attack. The key support level is at 94,700. If this level is broken, a weekly-level bearish trend will be established.

The next focus is whether the upward trendline below can hold — this is an important turning point. If broken, the bears may continue to push lower.

In terms of operations, you can participate in rebounds, but avoid frequently changing your holding cycle. Stick to the principle of short-term longs and long-term shorts, and do not let short-term volatility disrupt your rhythm.