$NIGHT has shown weakness in the morning market. From the 15-minute to 1-hour Candlestick chart, the price has effectively fallen below the MA60 moving average, which is usually a signal of an established downtrend. More importantly, on-chain fund monitoring data indicates a continued outflow trend, with significant selling pressure in the market.

Based on this judgment, I decisively placed a short position at 0.094, and I have already achieved a doubled profit. From the current trend, it is almost impossible to find any obvious signs of a bottom. Although there is a rebound, the strength of the bounce is limited, and the bears still hold the advantage.

Pay close attention to the support level around 0.080. If this key support is also lost, there may be further falling space. In the short term, continue to hold short positions and closely monitor the combination of trading volume and on-chain movements.