Recently, Bitcoin completed a short-term rebound and has generally entered a sustained downtrend phase. The originally planned short position at the high point was triggered early due to weaker price action, which aligns with the previous bearish forecast and can be considered a successful execution of the second plan.

From the current position, a small-scale pin bar pattern is expected soon, with the descending wedge pattern becoming increasingly evident. Considering that a consolidation phase is still needed, there is still room for further decline in the short term. The initial target is around 89,000, which is also the planned entry point for long positions and a key support level.

It is worth noting that although the price touched the upper boundary of the previous consolidation zone, there was no sign of a trend reversal. Under such circumstances, a false breakout scenario is likely — an initial sharp downward spike followed by a quick retracement and rebound. Traders interested in going long can consider placing orders around 89,305. If successfully filled, the subsequent rebound could be around 3,000 points, with a target near 93,000.

The subsequent trend is expected to enter another decline cycle. The overall strategy is to look for a rebound to short again after a bounce. For now, proceed according to this plan.