Btc's recent decline belongs to the first wave of an ascending wedge's accelerated drop. It has now broken through the support level, and yesterday's small V-shaped reversal probably fooled many people. The impression given is that it might go straight up, including the breakout above 90,500 as analyzed by Banmu Xia for a bullish move. However, this level is actually my short entry point because, from a pattern perspective, yesterday's rebound was relatively weak. The rebound high only touched 90,000 before falling back down.

Currently, the downward trend continues. Avoid going long now; even if you want to go long, wait until 8,300-8,000. Otherwise, after this pattern completes, the low point will be around 8,000. On a smaller scale, the bears are starting to decrease in volume, and a golden cross is imminent at the low levels. However, the rebound won't be too strong. If it's strong, it might touch 88,000; if weaker, it might touch 87,000 before dropping further. Therefore, my strategy remains to short on rebounds. From a 4H perspective, the pattern has already broken down, and rebounds can be used to enter short positions within this range. The target is the key support zone at 83,000-80,000.

Additionally, on the daily chart, there are no signs of a bottoming out, and a larger-scale accelerated decline could start at any time. If the 83,000-80,000 zone is lost, the next target is 75,000. Overall, the trend is clearly downward.