Recently, Bitcoin’s price movement has completely detached from news and has been unaffected by the U.S. stock market—it’s basically just entertaining itself.

CPI is bearish, and U.S. stocks opened lower, but Bitcoin is still above 80,300. According to the strategy I gave this afternoon, right now we’re holding long positions. To briefly explain the logic: the previous low was at 79,100. If we go long at 80,400, there’s about 1,500 points of room to the downside. So we leave a spot for adding to the position— even if it breaks down to 78,000/77,000, there’s still another chance to test out a long.

Old followers know that Lao An’s main long bias in April was to go long from 66,000 all the way up to 79,500. In May, we continue to stick with the main long bias. For short-term trades, focus mainly on 1,000/2,000 points; for medium- to long-term, it should be fine to look for a move of 5,000–8,000 points. At the moment, on-chain liquidity isn’t strong, which is why Bitcoin is currently consolidating in a relatively small range. So what we need next is patience—especially for friends who can “trade with time.”