1️⃣Bitcoin drops to the 77,000 range without stopping, the 4-hour upward channel breaks down, forming three waves of top-out bearish structures, and the bearish momentum has not been exhausted.

2️⃣Previously, 78,500 was a resistance level during the decline; avoid going long, and instead, set up short positions in line with the trend. The 1-hour chart continues to decline with a breakdown.

3️⃣Strong support below at 76,000-75,500; this range can be used to set up long positions, with a rebound target of 78,000, indicating a weak rebound.

4️⃣Continue holding existing short positions; after breaking below 77,000, gradually take profits and exit upon a candlestick close.

5️⃣Ethereum drops to around 2,100; closely watch the 2,000 support level, with mainstream coins falling much more than Bitcoin.

6️⃣Coins like DOGE, SOL, and others are falling sharply, giving back gains; currently, it’s not advisable to bottom-fish spot positions or set up long positions on coins.

7️⃣The market is in the mid-term bear phase; prioritize flexible position rotation and strictly control the timing of bottom-fishing.