BTC is currently at the 86,700 level. The short target I set during yesterday's live broadcast was around 87,500. If it reaches the 89,000 range, you can basically open a short position directly without much hesitation. The rhythm of other mainstream coins is also roughly synchronized.

Actually, I haven't just started calling for shorts today. As early as last Thursday, after BTC took profits on long positions from the 94,000 level, the overall trend had already completely shifted to a bearish one. The recent four or five days of movement clearly illustrate this—bulls first collapsed, beaten into a mess. This is the core embodiment of my often-mentioned principle of trading with the trend.

How to understand trading with the trend? Simply put, you need to figure out the current phase's trend direction. For example, if you go short within the 81,000 to 94,000 range, you'll find it hard to actually short down. From 94,000 to 71,000, the essence is a sideways downward oscillation, so the key decision is whether to go long or short.

From a technical perspective, the range above 126,000 and below 70,000 has already formed a locked pattern. There is almost no support at 81,000 to 71,000, which I call a vacuum zone. So why did we go long from 81,000 to 94,000? The reason is that this position coincides with the key points of the Chan Theory D segment and Fibonacci 0.618, and the rebound was halted at last Thursday's 94,000.

This wave of decline was so fast—dropping from 126,000 to 70,000—there are several main triggers behind it. First, on October 10, JPMorgan Chase issued a sell rating on a large MicroStrategy position. Second, the uncertainty caused by the US government shutdown. Third, the Southeast Asian region's black market Bitcoin assets being seized in large quantities, leading to sell-offs in gray markets. This wave of market movement came too quickly and intensely, even some veteran analysts haven't fully reacted yet.

The charm of this kind of market is that if you can grasp a wave correctly, there's enough room to turn things around. For example, the BTC range I called on April 8 from 74,500 to 130,000, and ETH from 1,500 to 3,600—those were opportunities.

If you've experienced losses or felt defeated during this period of trading, don't be too upset. Trading is like that—ups and downs are normal. The most important thing is to protect your principal and wait patiently for the next wave of market movement.