Meigu is about to return again. The “Kongtou” deep dive has just begun—continue looking lower.

First, judging from today’s trend, it’s already been falling all day from the morning to now, and market sentiment is extremely sluggish. Ahead of yesterday’s Meigu, it was made clear that it would open higher, but it wouldn’t rise much—so in the end it was still going to fall. Hasn’t today just confirmed that? From above 639 to below 620, that’s a solid 2000+ points of room.

Currently, structurally speaking, as the “Kongtou” keeps pushing down intraday, the short-term rhythm has weakened again, and there are no signs of any reversal. So under this kind of formation, the market will keep sliding lower. Until the drop tonight is finished, don’t consider going long. For BTC, watch two key levels below: 613 and 600. Once these supports are broken, an epic deep selloff will follow.

First batch of shorts: 620-625 area
Second batch of shorts: 625-630 area
Unified target: 600-580. Remember: don’t bottom-fish if support hasn’t been confirmed.