Bitcoin $BTC's view yesterday was that there was a short opportunity around 107,000, but the pullback would not end here, and it needs to go below 104,500.

Yesterday's operation was an average price of 106,900, and exited at 108,200, short-term operation. This morning, the price was brought down by the war, and the short position from the day before yesterday is currently quite profitable.

So, with such a "plunge" in Bitcoin, is the crypto market over? Although yesterday's drop was indeed a bit deep, it was also within expectations; the previous surge of ten thousand points was too rapid, the foundation was unstable, and it was necessary to have such a pullback. Only such a drop can eliminate the long positions accumulated from the previous surge, which I think is quite good.

Currently, the drop is actually sufficient, the previous four-hour line also has some volume increasing, buying a bit around 103,500 on the left side is not a big problem, and it's prudent to wait for another two lines to see if it continues to break down. The key point is whether it breaks the previous low of 100,000.