Yesterday, the market experienced another round of decline, with the current price dropping below 106,000.
In fact, throughout this entire segment, we have been shorting all the way down.
When the price returned to the high point, we focused on whether 117,500 could be broken.
That rebound just reached the Fibonacci resistance zone of 0.5-0.618.

In this zone, we recommend setting up long-term short positions again.
At that time, there were three entry opportunities; as long as one was seized, considerable profits could be obtained.

The entire decline ranged from 116,500 down to 106,000, with a minimum touching 105,500,
a drop of a full 10,000 points. Capturing any segment of this could lead to significant profits.

Let's review the recent operational suggestions,
Last Friday, I suggested a short position on Bitcoin,
with an entry price around 109,900, which was the consolidation area over the weekend.
After two days of consolidation, a new round of decline began.
The target for the short position at that time was 106,000, aiming for a break of the previous low.

However, I took profits early yesterday.
The reason was that there were already long-term short positions above, and short-term positions were also profitable,
so it was fine to take profits on short-term gains; the long-term position could continue to be held.
If there were no long-term positions, one could set a stop-loss on the short-term position,
continuing to follow the trend.

Reviewing yesterday's short-term suggestions:
We provided a short setup at a high point, and the market subsequently declined.
From the small rebound last Friday to yesterday,
I kept reminding that this segment of Bitcoin's decline had not yet ended,
with the target still between 103,000 and 100,000,
and it might even break below the 100,000 psychological barrier.

This viewpoint was not just proposed yesterday,
especially for long-term short positions, which must be held.
Even if there is a rebound or pullback in the short term, there is no need to worry excessively.
If the price rebounds back to the opening price, one can choose to exit at breakeven,
and then look for new entry opportunities to bet on a larger decline.

What to do next? Previously, we mentioned that the market might enter a range-bound fluctuation,
but now it leans more towards a new round of declining trend.
Because this V-shaped rebound did not form an independent structure,
there has been no reversal signal after the adjustment.

The resistance level has now shifted down to around 110,000.
This means that the short defense point has also decreased.
Last night's price has already broken the previous low,
with both the turning point and low being breached, indicating that a new short segment has formed.

According to calculations, this decline will at least form an equidistant drop.
The previous adjustment was 0.5, and the new target for the decline can be seen as an extension to 2.0,
which is between 101,000 and 101,500.

Therefore, for any subsequent rebound adjustments, we will still focus on "high shorts,"
using point C (the high point of last weekend's rebound) as the defense point.
Rebound means short, with the target looking at the previous low breaking, in the range of 101,000 to 100,000.

The reason for choosing this range
is that 103,000 is the previous turning point, a bullish defense zone,
while 100,000 is a psychological integer barrier.
So our viewpoint remains unchanged.

The article was published with a delay and is for reference only.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。