Some brothers still ask why only look at the downside. At least look at the weekly chart. Since the high point of 126,000, it has been two months, with 8 out of 10 weekly candles showing decline.

It's a vertical drop, more brutal than in 2018 and 2022. This can only be the result of large funds consistently dumping, crushing all the bagholders.

This level of force indicates continuous massive sell-offs, and they are actively manipulating and smashing the market, not just holders of coins. This conflicts with the current narrative of everything going on-chain and the struggle for Bitcoin control.

It suggests that these large Western funds are confident they can buy back more chips. How to get more chips? Only by staying below the dumping price for a long time.

Currently, the dump has reached 80,000. The three-day chart clearly shows this.

Carefully look at the three-day chart. After the 80,600 bottom, there is a pattern of equal highs and lows. The first three candles show bulls attacking, fighting for the 92,500 level.

The middle three candles are fighting for both the equal high and the lower level of 89,000.

Currently, the bulls have lost the initial support. For more than half a month, no matter how much the bulls try, they haven't managed to push above 95,000.

Don't be fooled by the daily chart's volatility and noise, but the weekly chart remains steady.

Don't underestimate Japan's rate hikes. In the past two times, Bitcoin fell over 20%, with a single-day spike of 10%. Ethereum's volatility is even more extreme, with 30% swings in a single day.

Since the three-day chart has already broken down, a bottom test is inevitable. The lower band is at 77,500, and the trendline, which is the red line in Chart 3, is around 75,000 at the bottom. That's why I mentioned 75,000.

It's also the reason I previously mentioned 95,000/85,000, because 85,000 is the midpoint of the trendline.

Currently, the trendline is between above 90,000 and below 75,000.

So in the short term, shorting around 89,000 is an option, which is also the weekly opening price. Around 85,000, I would wait and see. If it breaks below 80, then consider phased bottoming.