Since the beginning of the year, Bitcoin's recent market trend and risk exposure have been gradually converging. The probability of an extreme volatility replay is not high, and I am more inclined to believe that the recent consolidation pattern is nearing its end, and the market is brewing the next upward trend.

From a technical perspective, there are mainly two gaps that need to be filled recently. The CME gap left during the New Year's week is in the range of 88175-88720, which will eventually need to be filled. The more recent gap is from the weekend of mid-January, between 90620-91595. According to normal market behavior, these two gaps are expected to remain under pressure for a few more days.

However, once the weekend gap is filled, I believe there is a high probability that a relatively certain upward trend will follow. Therefore, there is no need to miss out at this stage—start building positions now, and continue to add on dips. This approach has relatively manageable risks. Bitcoin's short-term support levels are already quite clear, and the depth of any pullback should be limited.