Bitcoin's performance yesterday perfectly confirmed the dominance of the bears. The morning saw a sharp plunge breaking the oscillation balance, followed by a thousand-point range fluctuation that was just a short-term pause. It then retraced slightly but did not change the downward trend.

Our early morning short positions hit the mark precisely, capturing a profit of 2,500 points. The strategy was highly aligned with the market. From the details of the chart, the four-hour downward structure is intact, and the rebound lacks volume support, with strength far less than earlier. The bulls are retreating step by step, and the bears are in control.

Since falling from 76,000, the price has remained within the downward channel. The 65,000 support is only a temporary safe haven and cannot form an effective reversal. The medium-term direction remains downward. The current strategy is to continue shorting at higher levels, no guessing the bottom.

Trading suggestion: Short around 67,200-67,800, targeting 65,600-65,000. If it breaks below 64,000, stop-loss should be based on current position size.