The overall trend remains mainly downward, with the medium- to long-term decline target breaking below 76,500, and short-term focus on a rebound around 72,000.

Yesterday, I posted telling everyone that there would be a rebound around 72,600, and as a result, the price rebounded from that level, ultimately reaching around 73,900. The rebound strength was 1,300 points, which can be said to be very weak. It didn't even break the first resistance level at 74,000 before starting to fall again. The entire market is dominated by a bearish trend. Yesterday, we made a small long position around 72,800-73,000, and today we took a small short around 73,500. Basically, both long and short positions have been profitable, and the positions are quite full.

So, what will the market do next? Undoubtedly, this is a downtrend. The bulls are powerless, and rebounds are opportunities for shorts. Since even 74,000 can't be broken now, don't think about 80,000 or 78,000. These levels won't be seen in the next few months. With this momentum, and given the current funding rate, a significant rebound is unlikely. Many longs are trying to bottom fish, but with such heavy selling pressure, a large rebound is unlikely, let alone a reversal. So, friends trying to bottom fish should be cautious. In this kind of trend, it's hard to pinpoint the exact levels, and you could be caught halfway up the mountain at any time. Of course, when the price drops near 72,000, we should also watch for a rebound. Although there was a rebound at 72,500, there might be a second test of support around 72,000, with a rebound target still around 75,000-76,000. Of course, if you want to make money, it's better to focus on short positions. In June, there's a high probability that the price will break below 65,000. So, if there's a rebound to 75,000-76,000, you can confidently short. This round of decline has brought me to short at 65,000; there's no need to consider much else.