The most frequently asked question recently is whether Bitcoin should be bought or sold at the moment. Let me discuss this from both a technical perspective and the macro environment.

**Technical Analysis**

Looking at the 4-hour K-line chart, the current pattern is very clear. The price is stuck above $94,800, and the $83,700 level is the bottom. The middle is a range-bound sideways movement that doesn't go up or down significantly. Honestly, this could serve as a textbook example chart.

There is a golden rule in K-line trading—don't guess randomly, follow the trend. So, the most prudent approach at this stage is not to go all-in; small positions for short-term testing of the market feel are sufficient.

Since January 3rd, the price has been declining, and in the short-term intra-day logic, short positions are favored. But here's the question: looking at a longer timeframe, Bitcoin has fallen from 126,000 yuan and has been sideways for over a month. If this were a bear market decline, it wouldn't stay in the middle for so long. This suggests that the $80,000 level might be the bottom support. From a purely long-term holding perspective, entering now is not too late.

**What signals does the macro environment give?**

The Federal Reserve's expectations of interest rate cuts and quantitative easing are still in place. Early in the year, major investment funds are injecting new funds into the stock market, and some are starting to allocate to Bitcoin ETFs. JPMorgan is also applying for a cryptocurrency fund, which are all positive signals.

**How to operate**

Simply put—don't bet heavily on short-term trades, whether long or short. If you're planning to hold long-term, entering with low leverage is also fine.