11.5: Bitcoin falls below the 10 mark, short positions are fully released, why is a rebound essential?

Yesterday's adjustment of Bitcoin was beyond expectations. I originally thought it could effectively stop falling above the pin's low of 102,000 on October 11, but it ended up dropping below 100,000 US dollars. It reached a major support level near the low point of this year's wave on June 23, around 98,200 (with a minimum of 98,944). It seems that the bearish market atmosphere is becoming increasingly heavy, and those who prematurely bottomed out are facing significant losses. This market has never been smooth sailing.

The reason why I believe BTC will rebound above 113,000 yesterday is not because I continue to see a bull market; after all, Xunzhang specifically wrote an article last week explaining his views that the bull market is nearing its end, and the time node has arrived. The continued view of a rebound is not groundless but has realistic data backing it. The continuous decline in the market has weakened the ability to absorb, and the increase in short positions has, in turn, affected the selling and interests of the main force's chips. Therefore, there will be a significant pullback action to re-influence everyone's directional judgment and cultivate a bullish mindset, facilitating the subsequent selling. Thus, Xunzhang's expectation for BTC to rebound above 113,000 remains unchanged, and everyone will witness it together with Xunzhang.

Currently, the BTC market has fallen continuously by 17,000 USD, from 116,000 on October 28 to today's lowest point below 99,000 USD, taking 8 days. The analyst believes that at this time, entering the spot market and low leverage long positions at the BTC price of 101,000 USD, with a stop loss at 98,000 USD, is still feasible for medium to short-term holdings, as the market will not fall endlessly. The speed of decline in a bear market is very fast; if this pace and magnitude continue, the entire bear market process would be completed in one or two months, which is illogical. Based on comprehensive data and situational judgment, the analyst believes that a BTC rebound is essential, continuing to look for a rebound expectation above 113,000 USD.