Recently, the price of Bitcoin has shown a strong rise, but from a more macro perspective, the market may be facing a key turning point.

Although Bitcoin may still continue to rise and create new highs in the short term, the likelihood of a pullback is increasing when viewed from a larger cyclical structure. This judgment is primarily based on the analysis of the following three aspects:

First of all, from the price structure of multiple time periods, the current Bitcoin price is close to the previous highs and important Fibonacci retracement resistance levels. Historical data shows that these areas are often key points for intense battles between bulls and bears.

Secondly, although the recent pump has been strong, the trading volume has not been ideal. This indicates that while short-term funds have driven the price rise, medium to long-term funds have not yet entered on a large scale, which may lay hidden dangers for subsequent corrections.

Finally, from the perspective of price action analysis, a continuous rapid rise without sufficient consolidation usually indicates that once the top is reached, the subsequent pullback may exceed market expectations, both in magnitude and speed.

Based on the above analysis, short-term investment strategies may consider following trends and seizing potential opportunities for a rise. However, from a medium to long-term perspective, it is wiser to maintain a cautious attitude and be alert to possible phase tops and the ensuing deep corrections.

In this market environment, investors need to pay extra attention to market signals and flexibly adjust their strategies, so as not to miss short-term opportunities while effectively controlling risks. Continuously monitoring changes in trading volume, key price level breakthroughs, and the flow of large funds will help to grasp market trends more accurately.