This wave of retracement indeed exceeded expectations, with Bitcoin dropping below the key level of 90, and Ethereum also failed to hold the 3000 support line. The trend long positions set up earlier were stopped out around 3100. Bitcoin's fourth round of reverse long positions also took a hit at 90. I warned yesterday to observe first; once it broke below the 3100 line, I already sensed something was off.

This kind of market cannot be rushed. Essentially, this week is a prelude to a downward trend. But the current problem is that the decline exceeded our expected support levels. Once the support is broken, the situation becomes more complicated. Therefore, this week's weekly closing is particularly important. The original plan was to watch for consolidation after the decline, but now we need to wait for signals of recovery.

Starting next week, we can pay attention to the recovery phase. However, the recent two days have seen a significant drop, and the key in the coming days is whether we can stabilize during the consolidation, confirm the signals of a bottoming out, and then have the opportunity to start a new round of upward movement next week. The intensity of this dip was quite fierce, so more patience is needed.