Recently, BTC experienced a clear "small waterfall" in its price movement, which is still quite consistent with expectations from a technical perspective.

The price was pressured when approaching the resistance level around 92,600, and then it entered a retracement mode. We had already marked the risks in this range long ago, and the current validation is quite sufficient.

**Key points for short-term trading:**

From a larger cycle perspective, we still lean towards bearishness, but I don't recommend rushing to short now. I had already positioned short positions below 92,600 earlier, so chasing now isn't very cost-effective. The only investors who might be eager to enter are those who haven't held any positions before.

My plan is as follows: first take profits on short positions in the short term, then switch to a waiting mode. Place a short order near 92,300, waiting for the second top-testing opportunity. If the price rises again to this area, continue to build short positions. Conversely, if the market doesn't rebound, adjust according to real-time trends, and hold onto medium- and long-term short positions.

**Opportunities in Meme coins should also be seized**

The recent structural opportunities in the crypto market are quite abundant. For example, a few Meme coins I pointed out a couple of days ago as potential top escape opportunities dropped nearly 15% that very night. I also participated with small positions in short positions, and now the principal has been taken profit on. The remaining is to use the profits to speculate on subsequent volatility.

Regarding the bottom-fishing timing for such coins, there's a characteristic worth noting: whenever BTC enters a small bull market rhythm, certain top-tier on-chain KOLs will lead community-driven promotions, causing staged increases in coin prices. This round of market has already approached the end, and the top escape operations are completed. Entering recklessly now isn't very cost-effective. It's better to wait until the next trend-driven market starts.

From a personal perspective, my participation in Meme coins isn't very high; I mainly focus on the main trend of BTC, which allows for more stable gains. If other chains present cost-effective opportunities later, I will also update immediately.

Additionally, the previously mentioned WLFI short position has been validated—after a rebound, a clear decline appeared. The short position placed at 0.187 is not fully closed yet. Whether it's BTC's main trend or smaller altcoins, I have been quite precise in grasping the market rhythm recently.