Three big bearish candles of Bitcoin have fallen, engulfing the previous seven consecutive bullish trends. The cryptocurrency market is like this: one moment in paradise, the next in hell. There has never been a general who always wins; I only seek to be a long-lasting general, maintaining a steady flow is enough! We shorted on the 8th from 96,000, on the 9th at 95,000, and again at 94,200 in the early hours of the 10th, all the way down. I reiterate, I am not bearish; on the contrary, I feel that a drop and a strong sell-off would be better, allowing for a lower cost to accumulate. At the same price, more positions can be bought. When the time comes to rally during the Spring Festival, won't that be more delightful? Therefore, those who are stuck in long positions really don't need to blame me for being bearish, nor do you need to be displeased with others shorting. It's just a temporary situation; the final victory will definitely belong to the bulls! The premise is to not get overly excited, not to blindly add positions, and not to force liquidate if there aren't enough left. How low can it drop? I sketched it out last night, and I'm too lazy to continue drawing today, but it is still valid!

The comments section is very active, with many familiar faces, so let’s briefly discuss the market. A rebound is normal, and here at around 91,055, we need to allow for a rebound; otherwise, those who have taken profits on short positions or reduced their positions, how can they re-enter? How can short-term bulls eat meat? A rebound is not a reversal; think about it, suddenly pushing up all at once is unrealistic from the market's perspective. If there happens to be some positive news that suddenly pushes the market up, that's a different story. I only focus on technical analysis and study candlestick patterns.

Currently, on the hourly chart, we are in a rebound. First, pay attention to the upper Bollinger band pressure at 94,300 on the hourly chart. Next, the 4-hour Bollinger band is still pressing downwards, so the overhead pressure is significant; it cannot be suddenly lifted without substantial funds entering the market. The mid-band pressure on the 4-hour chart at 96,000 is also a key position to watch today; this is also where the daily mid-band pressure is located. To put it more bluntly, if today's rebound does not break 96,000, it will continue to test the support around the new low of 90,000. That’s all for now; the engagement is strong, and in the next post, I'll also talk about Ethereum. If everyone is supportive, I also have some views on SOL.