The recent Bitcoin market trend aligns with previous overall expectations. Although it is difficult to accurately predict the top position in the short term, it is certain that a wave of pullback is imminent.

Analysis shows that the pullback may range between $12,000 and $22,000. Notably, we only need to consider entering the pullback phase when the price drops below $4,222. Therefore, $4,222 has become an important observation point.

Currently, there are still two possible market trends: one is a pullback after the ending wedge, and the other is an ABC pullback wave after a complete five-wave structure. Due to the complexity of the market, it is still impossible to determine which scenario will ultimately occur.

Investors should closely monitor the key support level of $4222. If the price can hold this level, it may continue to maintain strength in the short term. However, once it falls below this level, one should be cautious of a potential significant pullback.

In this uncertain market environment, it is advisable for investors to remain cautious and manage risks effectively. At the same time, potential pullbacks can be viewed as future buying opportunities, but it is essential to develop a strategy based on one's own risk tolerance.