BTC broke through the key trend line, reaching 85000. In the short term, it has found support. Let's see if it rebounds to 87500-88000 today. If it can't break through, we can short.

Yesterday I went out for socializing and didn't watch the market. I also didn't place any short positions. As a result, when I woke up, it dropped to 85000, a decline of 5000 points. I missed such a good short opportunity, which is truly regrettable.

So how should we approach the upcoming market? BTC rebounded around 87500 yesterday, bouncing back around 2000 points, touching the pressure near 90000. Ultimately, it went down all the way, dropping 5000 points and breaking below the upward trend line, proving that the market is still dominated by bears. The bulls made a brief stand but it ended there. Therefore, for this market trend, we should primarily focus on shorting. Currently, BTC is around 85000 and seems to be stopping its decline, but I do not recommend going long at this position because the rebound is a bit weak, and there are no signs of bulls bottoming out. So can we short? I would not short here either, because it has already dropped so much and is in the oversold range. If we short here, it feels like we're opening a short position at a support level, which is not ideal. If it can rebound to 87500-88000 during the day and hold above that, we can consider setting up a short position because there is resistance at 87500-88000. Given the current bullish momentum, it is very difficult to hold above 88000. Therefore, for this market, we should still focus on shorting, and it would be safer to short after a rebound. If it does not rebound and just drops, we can only wait for the next opportunity.

Of course, the bottom is still at a higher position. The first bottom is 80600, and the second bottom is 83700. It has not yet broken below 83700. Although the bulls are weak now, we cannot completely dismiss them. We still need to observe the subsequent market. Trading is actually quite simple: if the rebound cannot go up, we short; if it can't drop, we go long. There is no need to guess its position in advance. When it reaches the position, we will naturally know how to go long or short.