Morning Analysis of Bitcoin on the 2nd

Bitcoin once again broke below a new low, and the intense market volatility triggered a wave of liquidations across the entire network, with over 80% of long positions being liquidated.

Although there has been a rebound in the current market, the overall downward trend remains clear.
From a technical perspective, the bearish trend is firmly established, with each rebound facing strong resistance. The overall direction remains bearish, and breaking below the 70,000 level is still possible. Friends currently entering long positions should avoid stubbornness, and those looking to buy the dip should exercise extreme caution.

Trading Suggestions:
- Consider short positions around 77,500-78,500 during rebounds
- The first target is 72,000; if this level is broken, further downside to below 70,000 is possible.
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