BTC yesterday experienced a double kill for both bulls and bears. Recently, the market has had nothing else but repeated stop-loss hits and repeated harvesting, and the downtrend is still ongoing, with the next target around 84000.

Every rise and fall of BTC recently has been spent in a constrained range, the pattern is not good at all. Whenever you think about the pattern today, it will return to the starting point tomorrow. Trading really has no certain direction; it's completely a meat grinder. So, what will happen next?

First of all, I believe the downtrend is still ongoing, and the next downside target is around 84000. However, how it will change in between, where it will rebound before falling again, is quite difficult to grasp, especially with the recent repetitive killings—one moment up, one moment down—there's really no technical analysis to speak of. Of course, there are several resistance levels above that we need to pay attention to. The first resistance level is around 87000, which has not been touched yet; the highest it reached was only 86800. If it cannot break through this level, it may directly fall from here. The second level is around 88000-88500. If it can stabilize at 87000, it may come up to hit the stop-loss at 88000-88500 before falling down again. These two levels are what we need to keep an eye on.

Friendly reminder, the recent market is complex and variable. It's advisable not to open positions casually, as it can easily lead to losses. Recently, trading has been of hellish difficulty, and it’s better for everyone to observe more.