Enter a short position on Bitcoin at the current price of 64,500.

Chu Yuechen: June 4th Bitcoin/ETH Contract Trading Reference The current market is extremely bearish. It faces a double whammy of "tightening macro liquidity" and "collapsed confidence within the crypto community." Although US regulatory policies have made progress, this is a long-term solution. Before ETF outflows stop and the selling pressure from whales is released, any rebound can be seen as a selling opportunity. Pay attention to the test of the 60,000 level. Of course, we cannot aggressively chase the short position. A rapid decline may also lead to a rapid rise. This rise is not necessarily due to bottom-fishing, but mainly because short positions above may be closed out for profit, causing a rapid price increase. As of the time of writing, Bitcoin has rebounded to nearly $64,500, which is what we mean by large orders closing out for profit. In the absence of significant positive news, the main force is still the bears. Operationally, we can wait for the market to stabilize and then place short orders around the current price of 64,500, with a stop loss at 65,500 and a target of 63,000-62,000. ETH short position at 1815, stop loss at 1850, take profit at 1750-1700. The morning drop to 61300 followed by a quick rebound raises the question of whether this is the end of the downtrend or just a rebound; it remains to be seen and no conclusions should be drawn prematurely. The $60,000 level remains a key level to watch. That's all for today. For those who want to discuss trading strategies together, please check my profile; I will provide entry and exit alerts.