Last night's long wick candle was quite intense, but the Rebound strength was decent. But don't forget, we are at a critical point of transitioning from bull to bear, so never use bull run logic to analyze the market. The bottom will keep probing lower and the top will get shorter each time. When a decent Rebound comes? Close your eyes and short it!

Looking at it over a longer period, it's not too late to short from any position now. What's late is your hesitation and not daring to get on the train.

Data speaks: In the past day, the number of liquidations across the network reached 156,953, with a liquidation amount as high as $541 million. Among them, long positions were cut by $421 million, and short positions lost $120 million. Long positions have been educated once again.

**What is the current situation of BTC?**

After a key support level was tested at night, a long wick candle was formed, and the trading volume also increased, indicating a short-term sign of a bottoming out. However, looking at it from a larger perspective, the bearish trend has not changed at all; it's just moving back and forth within a large range.

Previously, it dropped to a low of 80600 and rebounded to around 93000, but failed to break above the 94050 50.0 Fibonacci level. Now it is repeatedly testing up and down around this area, with the weekly direction being the key. Keep a close eye on the strong support zone of 82500-83000.

**How to operate?**
You can try to go long when it retraces to the 85100-84700 range, set a stop loss at 84000, and initially target 86500-87000. If it breaks, continue to look at 87800-88300, and if it reaches that point without breaking, then reverse to go short.

**What about ETH?**

Those who followed the suggestion to go long around 2730 should have already gained dozens of points by now. It is recommended to take profits in batches and leave some positions to set the stop loss at breakeven. After all, the cost is below 2730, and this pullback meets expectations – it is both a second bottom test and just happens to be at the low point of an ascending wedge. This area needs to be closely monitored.