BTC was brought down this morning when the Nasdaq futures opened down about -4%, falling below 81000. I told my friends yesterday that if it breaks 81000, it can't stop at 79500, and it directly hit 77300. So, is 77300 the bottom? I think, for now, it's likely still not; be prepared for a drop to 70000 tonight. The logic has three points:

1. Chip distribution (daily level): In such extreme market conditions, we need to look at the daily level chip structure. Downward, 77300 is a small support, with the real major support at 70000, and upward, 84000 becomes a resistance.

2. Nasdaq: In February-March 2020, it dropped from a high of 9838 to a low of 6631, a decline of 32.6%. This round's Nasdaq high is 20204.58. If we calculate using 32.6%, it could potentially reach 13618. As of Friday, the point was 15587, leaving a space for a drop of 12.6%. Considering this morning, Nasdaq futures have already dropped 4%, bringing BTC down to around 77300, which is a preemptive exhaustion of the drop. This means there might still be 8% space for Nasdaq to drop, corresponding to BTC, calculating roughly a 10% drop, which would be around 70000. Here, the combination of daily structure chips provides strong support.

3. Estimated liquidation: If it drops to around 75500, it could trigger 360 million liquidation, while pulling up to 90000 could trigger 3 billion. This means there isn't much left to liquidate downwards, and instead, upwards is more favorable for the main force, with a high payout.

Although it's very tough recently, looking at it rationally and objectively, during every term of Trump, whether it's the US stock market or BTC, there are historical-level crashes. However, many people only remember the 312 crash and forget that after 312, BTC quickly rebounded violently from the bottom of 3621 to 6960, and after that, it consolidated and rose steadily, increasing 20 times to 64986. I have a few friends who entered at that bottom, achieving financial freedom in their lives. Therefore, I really don't see it as bearish; cherish the opportunity brought by the crash.