OK, the initial pause at 66500 has completely passed yesterday. Relying on the support of 66500 throughout the day, Bitcoin repeatedly surged in the short term, going back and forth three to four times, with each time almost yielding about 1000 points in profit. If you ask if the hunter did anything, I'm really sorry, I didn't dare to act. I have completely lost any desire for short-term operations; I'm only interested in this kind of volatile trend.

I know that friends following the hunter's trend in short positions are very worried, as the 66500 level has consistently failed to break down. Each time it has been a spike rebound, and the surges have been quite strong. Now there is some anxiety, especially since we endured for a week at 68500. It was difficult to finally accelerate the decline on Tuesday, and of course, we thought the suffering was over and we could start to take profits. However, reality is always so unsatisfactory. 66500 is like a thorn in the throat. Holding a short position now feels a bit useless; it’s tasteless to eat and a pity to discard.

Brothers, don’t overthink it. The more you think, the more pressure you feel. I’ve said many times that your judgment of the market shouldn’t start from your own positions; otherwise, your understanding is bound to be biased. Putting aside the high-position short positions you hold, think rationally: hasn’t the market accumulated a lot of bullish sentiment since last week? Especially with the approaching elections and interest rate cuts, this atmosphere has become even stronger. If the bullish sentiment that has been hard to accumulate was to break directly below 66500 yesterday, wouldn’t the daily chart show a standard top reversal pattern? Including the strong support position at 66500 in this short-term cycle, if it breaks without any resistance, who would still look at a bull market?

So, understand the strong volatility generated by the market at 66500. Understand the market, read the market, and then you will find that a direct break below 66500 is actually bad news, because it may force people to exit, starting the bull market afterward. Only if this position keeps accumulating buyers is it a trick to trap longs. By the way, for those who wanted to see the hunter’s positions yesterday, just look for yourselves.
Now the main thought process is clear: 66500 is for entering long positions, and then overturning the vehicle in the evening. So let’s discuss the specific methods for overturning the vehicle tonight.

It is known that the bullish faction in the market regards 66500 as the defensive support point for bulls.

It is known that the technical faction in the market considers 66500 as the signal for chasing shorts when it breaks.

The evening market can be easily inferred. If the market starts to accelerate downward before midnight, then the first wave will definitely break below 66500. Note that breaking below 66500 will not accelerate but will be a false break with a spike and then quickly rebound back up, expecting to rally to around 67000.

This action can sweep away the stop losses of technical traders and conservative retail investors holding long positions, and it can also deceive technical traders into chasing shorts, further sweeping the stop losses of chasing shorts.

For those holding long positions with a sense of luck, the false break below 66500 is just a false alarm. The spike rebound will continue to hold long positions, and the market will continue to slowly drop around 66500. After repeated pulling around 66500, it will directly start to accelerate downward in the early morning, with the first wave hitting 64800-64500 to consolidate, with the extreme hitting 63500-63200 and then quickly rebounding to around 65000 to consolidate and oscillate.

If the market is still above 66500 after midnight, then there will be a direct wave breaking through in the later night, which gives no opportunity to chase shorts and no chance for long positions to escape (unless with stop losses). Then the market will directly settle at 63500, followed by a rebound around 65000 before adjusting downwards.

The reasoning result shows that today there is a very sneaky operation. For those observing, you can wait for the false break below 66500 tonight, pull back to the 67000-67500 range to short, with a stop loss at 68000, and then get on board from the starting point of the second wave of descending steps. Do not take profits, including at 63500; wait for me to find the second strong rebound point to notify you to add positions.