Bitcoin is currently in an extreme bearish phase. The daily DeMark sequence shows a 9-turn major bearish candle + 4-hour all moving averages and tunnel lines fully breached + Federal Reserve hawkish headwinds (dot plot shows only 1 rate cut + JPM predicts 0 rate cuts/rate hikes in 2027), with triple structural destruction overlapping, making the downtrend highly sustained. Aleng makes a clear judgment that Bitcoin may potentially drop directly toward 50,000. At the operational level, there is extremely limited room to maneuver — chasing shorts must wait for price retracement to the 15-minute Victoria Harbor tunnel line before entering; if there is no rebound, continue waiting. For rebound longs, try on the left side in three tiers (67,800 / 65,700 / 63,250), all high-risk operations with strict stops a few hundred points below and quick profit-taking. Strictly prohibited from frequently bottom-fishing during downtrends; large-level 57,700～56,600 golden pit continues with continuous dollar-cost averaging (pay attention to risk boundaries in the extreme 50,000 scenario).