July 9th Bitcoin Market Analysis:

Looking back at our previous recommendation, we advised investors to hold short positions near the 58,000 level. However, the market experienced exceptionally volatile movements, characterized by a morning decline, an afternoon rebound, and another drop during the night, presenting a complex pattern. Under such highly unstable conditions, adopting strategies of shorting at highs or buying dips was the most suitable approach, as entering positions in the middle range risked triggering stop losses or even margin calls.

From a technical perspective, the current Bitcoin price trend is gradually forming a triangular convergence pattern, which in wave theory is often interpreted as a signal that the market is about to enter the fourth wave or C-wave correction. If this convergence pattern materializes fully, it could indicate that after completing the current consolidation phase, the market may embark on a new round of downside exploration, potentially reaching even lower price levels. This anticipation offers a potential left-side trading opportunity, suggesting that the market might reverse at this point, and investors could consider tentatively establishing long positions with lighter allocations.

Therefore, for today's trading strategy, we continue to recommend maintaining a flexible approach of shorting at highs and buying dips, while closely monitoring market dynamics for clearer signals to emerge. Additionally, we remind investors to strictly manage their positions and risk, preparing for potential further volatility in the market. In an uncertain environment, maintaining composure and rational analysis is crucial for achieving stable returns.