The recent three trading days have shown a clear downward trend. Bitcoin started from a high of 94415, experienced a series of short-term fluctuations, and ultimately closed in a phased low zone. The driving forces behind this adjustment mainly come from two aspects: first, the continuous outflow of ETF funds; second, profit-taking after the short-term market overheated. From a technical perspective, this correction just verifies the previous judgment of high-level resistance.

Analyzing this market movement from an operational standpoint:

First is the logic of position layout. By analyzing support levels and Fibonacci retracement zones, a short position was initially established at the high of 94415. Subsequently, incremental positions were added at key resistance levels such as 93800 and 93200, forming a progressive strategy of "building positions at high levels and adding in line with the trend." Throughout the process, short positions were kept sufficiently allocated, fully capturing the main downward wave.

Risk management execution is also worth mentioning. Funds were allocated using a phased approach, dynamically adjusting stop-loss levels based on Bitcoin’s recent ATR volatility. Combining technical stop-loss and time-based stop-loss, a dual approach was used to avoid short-term volatility risks, ensuring the position remained stable until reaching the target zone.

From actual results, this operation achieved an average profit of several thousand points, fully demonstrating the accuracy of trend judgment and the professionalism in position management. The market has always been operating according to technical expectations—resistance indeed appeared at high levels, and the retracement magnitude aligns with previous analytical frameworks. This reminds us that when judging market direction, adhering to objective technical standards is often more reliable than chasing market sentiment.