The recent market movement from early morning to dawn, to be honest, exceeded expectations. I originally thought Bitcoin would undergo another 4-hour level correction around 93,600, but it directly surged to 96,500 in one go.

We can see very clearly the rebound trend on the daily chart — the target is right there, and from late January to early February, there's a good chance it will rebound to the 102,000~105,000 range. This isn’t something I just mentioned today; it’s just that the process in between has been much more complicated than expected, with quite large oscillations back and forth.

Here’s a key point that needs to be clarified: Are you trading spot or futures? The two approaches are completely different.

For those trading spot, it’s actually simpler. Hold your coins, be optimistic about the daily rebound, and sell once the target price is reached. Focus only on the result; the fluctuations in between can almost be ignored.

Futures trading, on the other hand, is not that straightforward. Short-term swings back and forth, constantly watching out for liquidation risks, and it’s easy for your mindset to get torn apart. Futures require better control of the process and more efficient use of capital. Everyone knows you can't hold a futures position for too long — opening a position and holding it for a month or two before closing? It sounds simple, but actually doing it is a whole different story.

In this market, I personally made a mistake. I didn’t expect it to extend so much, which caused the planned 4-hour correction to not materialize. What’s the outlook now? The daily rebound structure is likely to hold, but we still need to keep observing...