Bitcoin's recent decline has been quite fierce. From a high of 126,000 down to 80,000, it continuously broke through several key support levels, and at that time, the market was filled with a strong sense of panic. Many who remained bullish were stunned and even started to waver. It wasn't until it dropped to 80,000 that the bloodshed was barely halted.

Although there was a rebound afterward, attracting some bulls to re-enter the market, I believe this level can no longer break through much. The overall trend in the larger cycle remains downward, and subsequent movements are likely to test even lower support levels until the market stabilizes at a sufficiently low position, allowing energy to accumulate for the next rally.

However, from a smaller cycle perspective, the rebound from 80,000 to 94,000 and then back down to around 87,000 forms a typical bullish-bearish balance pattern. This kind of situation usually indicates that a one-sided trend is about to emerge. Honestly, at this point, I lean towards a bullish outlook.

Why? The rebound hasn't fully unfolded yet, and the market's panic atmosphere hasn't completely dissipated. Overall sentiment remains somewhat pessimistic. According to Fibonacci retracement, a rebound from the 0.382 level of the highest point should reach around 98,000. Even from the second high point, a retracement at the 0.5 level points to around 98,000 as well.

Market conditions are never absolutely certain, and everyone understands this principle. But we can execute our trading plans with 100% certainty to respond to any market changes. My plan is: when Bitcoin reaches around 98,000, open a long position, then switch to a short position. This cycle could last until the first quarter of 2026. Only by aligning knowledge and action can we remain calm and confident.