$BTC BTC daily bearish engulfing! The current expanding triangle's lower boundary is showing a rebound, but at this stage, it is still not advisable to blindly go long. As emphasized multiple times before, if the market cannot effectively stabilize above the 780-785 range, long positions are not suitable for medium to long-term holding. Traders who positioned short around 780 yesterday have probably already secured good profits.

From the details of the market, the open interest at this price level continues to decline, while a large number of orders are stacked above, indicating concentrated liquidations and the potential for margin calls; combined with the Vegas channel, the previous sideways trend line forms multiple resonance suppressions, and multiple technical signals point to this resistance level[780], making shorting highly cost-effective.
Below, pay close attention to the support around 750; once broken, the market is likely to experience a rapid plunge. For those who added positions on the rebound, consider watching around 765. Based on cycle analysis, this bottoming process will not be smooth, and entry opportunities will not be easily given; the subsequent trend is expected to become increasingly complex. Currently, the possibility of the 60k price level being the stage bottom is decreasing.
On the trading journey, focus solely on market conditions that fit your system, avoid subjective guesses, do not rely on luck, and prioritize responding appropriately#美光市值突破1万亿美元