BTC has seen a significant decline for two consecutive days; has it hit the bottom?

Recently, BTC showed initial resilience under the impact of news events the night before last, but then experienced a further decline last night. Whether it has reached a bottom is something we need to pay attention to in relation to its correlation with the Nasdaq index. Last night, BTC's price movement was highly consistent with that of the Nasdaq, despite the two having different opening states (the Nasdaq opened high and fluctuated downwards, while BTC opened low and continued to hit new lows), the rhythm was similar. It is noteworthy that during BTC's upward phases, it often performs independently of the Nasdaq, but at critical turning points, BTC is significantly influenced by the Nasdaq, showing a high correlation. This pattern and experience have been validated multiple times and are worth investors' attention.

Currently, whether BTC's downward trend is over largely depends on the Nasdaq's performance. Nasdaq futures followed the German index's low opening and continued to decline after the European stock market opened, with BTC also sliding down to around 95000. From a technical perspective, around 94000 is an important support level. The German index is also close to its previous platform support, while the Nasdaq has dropped nearly 300 points; whether it can stabilize at this position needs attention during tonight's opening.

Overall, the current market sentiment remains bearish, and there are no clear trend trading opportunities. Although BTC has declined for two to three consecutive days, this does not constitute a major trend. Before the Federal Reserve's news release, investors were advised to short, and this recommendation was maintained yesterday.

Regarding yesterday's operations, the suggested short position was reasonable, but the closing was too early. Personally, I was fortunate to exit a long position opened at 99700 when it rebounded to around 101000. It is worth noting that spontaneous trading should be avoided; trading should be planned in advance as much as possible.

Today's operation suggestion (short-term and aggressive, please operate with light positions): Unlike yesterday, today’s suggestion is a high short and low long strategy. The low long position can reference around or below 95000, with a stop-loss set at 94000, and the upper target looking at around 97200-98000. The high short position is suggested around 98600, with a better short position at around 100200, and the stop-loss should ideally be set above 100500, targeting around 96000.