The current trend of Bitcoin indicates that the market is still relatively likely to seek support around 60,000 points. Since the 1st of this month, the price has been continuously declining, with a total drop of about 11,000 points, approximately 15%, and there has been almost no effective rebound during this period. Market confidence has been significantly shaken, and panic sentiment continues to spread. Most cryptocurrencies like ETH and SOL are also performing weakly, further accelerating the trend of the crypto market evolving into a deeper bear market.

The market is generally concerned about whether the main index will break below the previous low. Personal judgment suggests a higher probability, possibly even dropping to the 50k-point range. Cryptocurrencies such as ETH and SOL are approaching their lows for the year, combined with regional geopolitical uncertainties like Iran and the US, as well as continuous outflows of funds from crypto institutions seeking safety, which may further pressure the market, leading to deeper declines, panic, and downturns.

Without positive news to boost confidence, and considering the recent speed of decline, from a monthly perspective, the next overall downward target for the market may be in the range of 55,000 to 58,000 points. It is necessary to observe whether this range can form a bottom. Therefore, the strategy remains to maintain a high-altitude outlook.

Trading suggestions:
Bitcoin (BTC) in the 64,000-64,500 range for shorting, with an intraday target of 61,200-61,800
Ethereum (ETH) in the 1,800-1,820 range for shorting, with an intraday target of 1,680
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