$BTC 11.24 Bitcoin Price Today: Currently maintaining the medium- to long-term view from August 2. The five-wave upward structure starting from 15487 has been completed, and we are now in a major Wave 3 correction phase. This correction cycle will require at least 140 days, but only 100 days have passed so far, so there is still insufficient time. The wave structure is showing a W-X-Y pattern, and we are currently in the ABC correction at the end of Wave W, with Wave C likely unfolding in a five-wave structure and currently in the third wave decline.

In the short-term structure, there is a short-selling opportunity near 87000, with the support area below expected to complete the Wave W adjustment. After that, a Wave X rebound will start, potentially testing the previous left shoulder high to form a head-and-shoulders top pattern. Wave Y's pullback may break below the neckline to create a bear trap, ultimately completing the entire correction structure. Patience is needed throughout, as the process will still take several weeks.

Trade recommendations: Consider shorting Bitcoin near 87000 with a stop loss at 89000. For ZEC, try a short-term long near 530 to capture the opportunity for a new high after the fourth-wave correction. Spot holders who are stuck in positions need not worry excessively, as the Wave X rebound will provide an opportunity to reduce holdings.

In summary, the short-term outlook for Bitcoin is bearish—just focus on risk management.