Summary of Previous Contract Opening (II) Continuing from the previous text, the dialectical thinking logic of contract opening is used to control risks. In the comments section of the previous article, some friends have left comments. Who can say for sure whether the current trend is a bottom oscillation or a high oscillation? That is to say, what if we break through the 833-921 range next, break 8 or even lower? Thus, the deep bear trend is approaching. Of course, it cannot be said that this is completely impossible. Macro analysis of Bitcoin Since November, the market has fallen by 20% and has been oscillating in the range of 806-945. Although it broke through 945 earlier, it did not stabilize and still fell back and fluctuated. From a macro perspective, unless there is an expected bearish sentiment, it will lead to further panic and a downward impact. This is mainly about Trump tariff (the tariff of Greenland has ended, but the new tariff expectation of Canada), the expansion of geographical influence, the increase of interest rates in Japan, and the recession of the US economy. Once it expands, it will continue to increase panic and have a negative impact on prices. But observant friends are also aware that the impact of the above events is limited (except for the fact that the US economy has already entered a recession, which has not yet occurred), and may not necessarily cause a major panic, and the panic sentiment can also reverse very quickly. That means it may not necessarily fall much deeper. Of course, this is expected to be bearish on the news side, but sometimes there may not be any news side. When liquidity is extremely low, the market is forced to decline, but the extent of the decline is limited. After liquidity recovers, prices will rise again. This situation has happened many times in the past. Overall, at the macro level, you believe it is a bottom oscillation, which means that as long as there are new positive expectations, it will bring about a trend of upward movement (rebound). So from the perspective of price trend, the bottom fluctuates within the range of 833-921.