Shu Qin: Not looking too good... Is Bitcoin heading into a downtrend? Can we buy the dip now? Let's take a quick look.

1. As shown in the chart. BTC rebounded well in the first two weeks, with higher lows and higher highs, and the price rebounded over 12%. But! Everything changed dramatically starting yesterday, with a failed breakout. Is Bitcoin's upward momentum coming to an end?
2. Actually, there is still a glimmer of hope for BTC's current trend. Because the support around 63,000 is still quite strong, it held during the Korean stock market crash and supported that wave of decline. Bitcoin itself is actually fine, but if the US stock market or others experience another crash like yesterday, Bitcoin's 62k support might not hold, and the defense line could retreat to the previous low of 60k.
3. However, this situation has not yet occurred; Bitcoin still holds at 62,000. At this point, I wouldn't rashly go long with futures contracts because the risk is indeed higher, but we can hold spot positions. Because Bitcoin is just over 60k, Sol is in the 60s, and ETH is over 1,600, these are all very good prices.
4. So I plan to buy some spot positions that won't blow up the account, trying to profit from the rise. If it falls, at worst I’ll be stuck for a while, but I won't lose money. In the bull market, I could even multiply my gains several times. After all, we sold at the top of 67,000 in spot trading; theoretically, buying back at any price below 67,000 is profitable. The previous top escape is our biggest confidence.
5. As for the US stock market, SPCX collapsed as expected, falling below 140. Any significant rebound can be shorted again, for example around 170, then set a protective buy order at 190 to average up and recover from the dip, ensuring no losses. If it doesn’t go up and just drops, then it’s a big profit.
6. We have never lost when shorting SPCX, with 4 wins out of 4 trades, holding long-term positions at 1x leverage, entering in batches. Currently, Bitcoin is operated with spot trading; different leverage should be used depending on the situation because, besides trading, position management is equally important.