Bitcoin shorts are experiencing a strong decline, and any rebound space is just fuel for the shorts. Yesterday, it even hit a historical low not seen in 7 months. I previously mentioned a long-term bearish outlook around 78,000, and it seems that statement may really come to fruition.

Yesterday, the price continued to break new lows, and today it has tested the 85,300 level. It has now stopped falling and is showing a slight rebound. From a technical perspective, there isn't much to say about the current market situation because the trend is very clear: it is downward. Occasional pullbacks have not been able to stabilize; either on the same day or the next day, it directly falls back and breaks new lows, indicating a bearish trend.

Having said all this, let’s get straight to the points for everyone to position themselves. During the day, you can look to short in batches around the 87,200-87,500 area, targeting 85,400, 84,000, and 82,800. These points are for reference only.

Follow the public account, "How to Relieve Worries, Only Jiang Wei," a treasure analysis blogger with high emotional value. He shares trading education for free, bringing stability and clear guidance in the restless trading market, with experience spanning three bull and bear cycles and years of practical trading. He specializes in naked K, trends, Dow Theory, Gann, harmonics, Chan Theory, Elliott Wave Theory, and other technical analyses, culminating in his unique insights.

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