Trader Hero - Old Zheng's Thought Sharing on Thursday

This rebound lacks any strength; the corrective trend following the significant decline earlier instead highlights the insufficiency of the bullish resistance. The rebound is not only weak but also raises concerns about its sustainability. This small range of sideways consolidation is usually not a sign of a bottom in a downtrend, but rather a "resting phase" for bears to accumulate energy and prepare for another push.

Only when the market shows a strong bullish candlestick with increased volume and steadily breaks through the resistance of the 5-day moving average can the downtrend hope to be reversed; if there are no such signals, the downtrend will continue, and all fluctuations in the process are merely rebounds lacking a solid foundation. These rebounds provide us with excellent opportunities to short at highs.

Bitcoin is around 1,040,000 to 1,047,000, aiming to break below 1,030,000 and continue looking down to 1,000,000.

Concubine Empty near 3450-3470, target looking at near 3300, if broken continue to look down at 3150.

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