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Bitcoin drops below 79,000 again. This market is basically a trap to break through—both bulls and bears get wiped out. During the period of right-side trading, everyone has been suffering, including the old demon—profits have pulled back a lot. This time, the rebound strength is clearly not enough; a bearish trend has already appeared. That means it’s very likely to move down earlier, and it won’t be able to reach 84,000.
The focus is on rebound opportunities to short. If the rebound is weaker, first look around 796. If it’s stronger, around 803. Consider shorting opportunities at these two levels.