As 2025 draws to a close, the trend of BTC has indeed left many feeling exhausted. Looking back, on November 21st, a support signal was given around 80,600, and on December 11th, a first wave of a high was declared at 94,600. In the nearly three weeks that followed, the price repeatedly oscillated between these two key levels, wearing down market participants' patience.

When the market is uncertain, there is actually only one thing to do—persist a little longer than others. Based on the current pattern, the launch of BTC's new wave of行情 is already in the countdown stage. How to proceed next depends on your current position.

Let's start with an eternal trading dilemma: being trapped or missing out—you can only choose one. To achieve a better cost basis, you must accept the risk of missing the move; to get in early and fully capitalize on the trend, you need to be psychologically prepared for being trapped or stop-loss being triggered. There is no perfect solution.

From a technical perspective, both the red and blue routes for BTC point to an upward trend; the only difference is whether there will be a retest of the 84,000-84,700 range in the middle. Based on your risk tolerance, you can consider the following:

**Type 1, Positions that bottomed on November 21st**
You can continue holding now. After the price breaks through 94,600, focus on whether there will be a clear stagnation around 97,000-98,000. If so, consider reducing some positions to lock in profits. The remaining positions, with a trailing stop, aim to reach the target zone of 101,300-103,000. If the price retraces in the next few days and pauses near 86,000 or 84,600, consider adding some positions to lower the average cost.

**Type 2, Friends who bottomed between December 19th at 84,500-85,000**
Your approach is the same as above. Manage your current positions according to that plan. If an opportunity around 84,600 appears, adding more won't be a loss.

**Type 3, Currently out of the market**
This is indeed a tricky position. Buying in now risks a significant pullback, but missing this wave means missing out on a major trend. My judgment is this: the upward cycle starting from 80,600 has not fully played out; it could extend into mid-January 2026. The price needs to at least break above 94,600, with 97,000-98,000 and 101,300-103,000 being reasonable targets. To catch this rise, the key is to decide where to place your stop-loss.

If you're trading on a smaller timeframe, set your stop-loss around 86,300; if hit, wait for the next entry point. But if you're thinking on a larger scale, your stop-loss should only be below 80,600 to be truly effective.

The elements of risk-reward ratio, certainty, position size, and risk management vary in understanding and weighing from person to person, which naturally leads to different operations. I can only provide a framework; the specific execution depends on your own judgment.