$BTC 11.25 Bitcoin price today: Bitcoin has now reached around 88,500. The short order we placed above yesterday has successfully taken profit. The market has once again pulled back to the upper band of the channel. This position can still be used to lay out more short orders. As long as the support below can't hold, the market will continue to move downward. Therefore, the logic for short-term trading hasn't changed; it's still shorting from above.

Currently, the overall structure is a rebound of wave c3-4. After this rebound is completed, it will still have to undergo a decline of wave c3-5, then enter the rebound of wave c4, and finally experience the decline of wave C5. This means that the overall structure is still a downward oscillation rather than a unidirectional trend.

In summary, we are currently in the C wave-4 rebound, after which there will be a decline in the C wave-5.