Analyze Bitcoin The price trend of Bitcoin is still bullish. It is recommended to establish a long position around $104000, with a target price of $120000 (expected to be achieved in mid June). The current correction is a normal market adjustment, in line with the bullish trend, and the market liquidity has increased, but the participation of retail investors is low, indicating that the rise may be driven by institutional investors or large investors and is sustainable. Key point analysis: Current prices and market conditions: The current price of Bitcoin is $104824, up 0.7% in the past 24 hours, but trading volume has decreased by 34.21%, reflecting reduced market activity. The price below $104000 forms a 'monthly open trap', which is an opportunity to go long. Bullish forecast: The target price of Bitcoin is $120000, and the bullish basis is based on low participation, high liquidity, and institutional led "off exchange gains". Risk statement If Bitcoin falls below $97000, the bullish signal will be invalidated. Suggest rebounding below $97000 with a target of $109000 to manage risk. Suggestion: Long strategy: Establish a long position around $104000, target $120000, and set a stop loss below $97000. Risk management: Pay attention to the support level of $97000, and consider a rebound trading strategy if it falls below. Market dynamics: A decrease in trading volume may indicate short-term volatility, and close attention should be paid to market participation and institutional fund movements. BTC