The Friday market has once again completed its cycle, and the black swan's influence is still present. Although today did not end well, it was another opportunity to recognize oneself. Without failure, where does success come from? Only through continuous failure can we grow. Learning has no bounds; Bitcoin rebounded to the 109,963 line in the early hours before retreating under pressure. Although it wasn't a straight downward trend, it has retraced in another form, with a slowly oscillating downward trend continuously breaking through lower support. Currently, it has fallen to a low of 107,291, with a decline of nearly 3,000 points. The overall market today is basically concentrated on this wave. We are not overly short on Bitcoin for the day, allowing for a slight profit space of around 500 points. However, it is still not enough. The Bitcoin short positions held throughout the afternoon unfortunately hit the stop-loss at 1,222 points in the evening; there is no such thing as an invincible general. What we can do is provide timely analysis when the market trend arises, adjust our thinking, and prepare for the future market. Losses are not to be feared; what is frightening is the inability to face them directly. If we want to pursue the long term, this is unavoidable. Moving forward, we just need to maintain a good mindset, become braver with each battle, and always believe in this saying: what does not defeat me only makes me stronger.

The daily Bitcoin chart has yet to break a new high. After attempting to breach the 110,000 mark, it faced resistance and retreated. This rally marks the third attempt. Similar to previous attempts, which all experienced pullbacks, this one has also followed suit without any surprises. We have timely exited with stop-losses and did not stubbornly chase longs. The previous first pullback halted at the 100,000 mark, while the last pullback reached around 98,000. Each pullback has deepened in intensity. We predict that this round of pullback will also increase in intensity, breaking through the 98,000 mark, with expectations of a wave near the 95,000 mark. What we can do is to follow the trend when the true trend arrives; not being stubborn will allow us to go further in this circle. For the 4-hour chart, pay attention to the previous low point at the 95,000 mark. If it can hold, it will temporarily halt this round of pullback. If it breaks, this round of pullback will definitely intensify. At that time, we will respond flexibly according to market trends and structural patterns. The early morning operation remains unchanged; a rebound is a short opportunity.

In the early morning, Bitcoin can be shorted at 107,800-108,300, targeting around 105,500; Ethereum can be shorted at 2,490-2,520, targeting around 2,400. #比特币 $BTC