$BTC Bitcoin since late May has repeatedly reminded that the area around 780 is an excellent position for long-term short positions, most likely the last high-altitude opportunity of this round. The current market has already confirmed this, with this round of bears realizing a profit of 15,000 points. After reducing short positions, continue to hold and wait for a rebound to add positions as scheduled. The current downward slope is quite steep, and I believe there is a need for a slight rebound.

As the price continues to decline, the overall market sentiment is strongly bearish, but following the trend does not mean entering the market arbitrarily. The key watershed is 650-670, which is a densely traded zone. If the price cannot effectively stabilize at this level, the large-scale downtrend will not change. The best strategy at this stage is to patiently wait for a rebound with signs of pressure, and not blindly chase short positions.

From the weekly cycle perspective, the medium-term key support for Bitcoin is in the 540–570 range, with the second level around 1600. In the future, deep corrections should focus on monitoring the pressure at this level.

Tomorrow, Friday evening’s non-farm payroll data still needs attention. My personal view is that it remains bearish and the probability of it being better than expected but lower than the previous value is high. #ETH跌幅超5%