The fall of BTC this time is indeed quite fast.

In the early session, it dropped directly from around 91000 to 87000, a decline of over 4000 points, basically in one go. This kind of drop should be familiar to seasoned investors—a typical waterfall trend.

In fact, there were signs of this trend a few days ago.

Last weekend, the rebound strength was clearly off. The price went up, but the volume couldn't keep up; several attempts to push higher felt very forced. At that time, I thought something was off, and it might need to pull back.

It really didn't hold up.

The current question is: how far can this fall go?

According to the previous lows, around 80000 is a relatively key position. There was support at that price level before, but with the market sentiment being so weak now, it's hard to say whether it can hold. If it breaks below 80000, there may be deeper space below.

The rhythm of the past few days has been quite clear: rebound → fatigue → fall.

Many people thought that the previous rebound was a signal of a trend reversal, but it turned out to be just a technical correction during the fall. It seems now that the downtrend may not be over yet, and at least in the short term, it is difficult to see any obvious reversal signals.

One thing to note:
A few days ago, there was indeed a rather tangled phase—uncertain whether to continue rebounding for the third wave or to directly turn to a fall. But the market quickly provided an answer, and it can now be basically confirmed that the downtrend has restarted.

What to look at next?

My personal inclination is to continue to watch and wait until the price actually approaches 80000 before making any decisions. If it can stabilize around that level, there might be a chance for a rebound; if it breaks through directly, then we have to be prepared for a larger correction.

In conclusion, at this position, chasing the rise is definitely not wise. Patiently waiting for low-level opportunities may be a more prudent choice.