The key point is here

First, the stance: The range between 89,800 and 90,200 is suitable for phased short positions, with target prices at 88,500 and 87,500.

From the trend perspective, the market moves very quickly. It jumped straight from 89,940 down to 86,600, with no signs of slowing down. What does this indicate? The selling pressure in the market is quite resolute.

Now is not the time to catch the bottom. The real danger lies at the 86,000 level. Once it breaks below that, there will be little support below 87,500, and after breaking 86,000, the next target is directly 84,500.

A phrase to remember: When the trend is downward, any rebound is just an opportunity for bears to add positions. Don’t be fooled by rebounds.

#美联储降息 and $BTC are following the same logic. The overall trend still favors the bears.