It's nearing the end, and I can only say that today's surge to 69,500 was just right.

      Pay attention to the positions of the previous two spikes during the review.

      Last week, the first spike at 68,000 and the spike at 69,000, both times the market surged and then retreated, subsequently breaking through by around 500 points before starting to decline. It was clearly aimed at sweeping short-term short positions, and the long-term bearish trend had almost no impact on this short-term surge (as mentioned in previous articles, whether 69,000 breaks or not is no longer important; spikes are bound to occur).

      In a phase where market bullish sentiment is strong, the market indeed rises, but if you observe closely or have actual operations, you will clearly feel that there is no entry point for long positions. Since last week, whether it was the surge to 68,000 or 69,000, there has been no effective support point formed during the pullback phase for long positions to enter. If you chase the long positions, they will immediately drop, with declines exceeding 1,000 points. So how do you play this? For the bullish retail crowd, everyone is holding their breath, trying to find a position to get in.

      Looking at today's four-hour chart, it is very clear that the previously formed box range's upper limit of 68,000 has now become the current support level during the pullback. It’s a reasonable position to go long, an unavoidable long position.

      From this point, it can be easily inferred that tonight's market will drop to 68,000.

     The key is to see whether 68,000 will consolidate or immediately rebound and surge.

     If it consolidates at 68,000, a waterfall decline is about to begin.

     If it immediately rebounds at 68,000, that would be the last time to annoy the bears, pushing up one more time to the previous high (whether it breaks the previous high or not is irrelevant) and then reversing down without warning.

     Intraday short-term: Go long near 68,000 with a stop loss of 200-300 points. If there is no acceleration upwards within two hours, close the long position without losing money, and take profit in the 69,000-69,500 area if it surges.

   Long-term: Either wait for a drop back to 69,000 after a surge to short, or wait for a breakdown below 68,000 to short.

   Currently, the clients of the hunter are concentrated on trend short positions around 68,500-68,000. I want to emphasize again that I am not writing this article to please anyone; it is entirely my trading diary.

   During the decline, remember these two strong rebound points. The first is a strong rebound around 63,500-63,200, approximately near 65,000. The second is a strong rebound around 58,000, approximately near 60,000. Note that these two strong rebounds are merely adjustments during the decline and do not change the downward trend. The ultimate target remains 53,000-50,000, with the final goal being to break below 48,000. Only below 48,000 will I enter the bottom-fishing verification stage. Why am I so optimistic about this wave of decline, or why is the hunter not considering that a bull market has started? I have already explained this many times, whether it’s the U.S. stock market, the elections, interest rate cuts, the U.S.-China capital game, geopolitical factors, ETFs, BlackRock, Grayscale, bull-bear cycles, institutions, major players, or retail investors; I have thoroughly interpreted all of these, completing the closed-loop argument. If I don’t execute, am I just doing this for fun?

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