$BTC 8.8 Bitcoin price today: Bitcoin is currently rising to the 117,400 level, Ether is around 3,880, having broken through a key level, so shorting is not recommended here. It is currently operating in the fifth wave, with a target around 125,000. After the fifth wave completes, there is a high probability of a big dump of around 50%, and the price may return to the 70s.

Currently, the internal structure of the five-wave pattern is likely a three-wave structure, and we are currently in the third wave. There will be a fourth wave consolidation and a fifth wave surge afterward. If you are not afraid of intermediate fluctuations, you can hold on all the way; if you are afraid of fluctuations, you can take profits around 120,000 and wait for a pullback in the b wave before re-entering. You can also continue to go long now, with an aggressive stop loss around 115,000. Going long backed by this position offers a decent cost-performance ratio.

In summary, hold the long position until the 5th wave of the Elliott Wave Theory is completed.