Recently, the bears seem to have completely disappeared from the market, but they are just temporarily lying low, not leaving the scene; they are all waiting for the bulls' rebound momentum to exhaust before concentrating their sell-off.

Is there anyone like me waiting for the price of the coin to rebound below 68,000 to set up shorts? Around 67,500 is a good entry point; directly open a short when the price reaches that level.

Yesterday, BTC surged to 65,300 and was directly suppressed back down, currently hovering around the 64,000 line. The bulls couldn't even hold the 64,500 threshold steadily, and the upward momentum is clearly insufficient. However, the bears have not significantly increased their sell-off either; both sides lack strength, and the market is stuck in a stalemate, waiting for key events to unfold.

This Thursday will be the main event determining short-term trends, with a concentrated settlement of 13 billion in quarterly options. A total of 10.6 billion USD in options will soon expire, and currently, only 20% of the contracts are in the money, while the remaining 80% totaling 8.6 billion USD in call positions are essentially worthless. The maximum magnetic pull of current options is at 74,000, which is a full 10,000 points away from the current price, making it difficult to reach in the short term. The overall position structure clearly favors the bears, and as we approach the settlement phase, market makers' Delta hedging will also bring additional selling pressure.

60,000 is the core defensive support, where 450 million USD in put options have accumulated to support the price. If the 63,600 support level is breached, the short-term target will be 62,500; if support continues to break, the 60,000 mark will face a direct test.

The trading strategy is quite simple: wait for the market to rebound to around 65,000, then directly set up short positions in batches.

Long before SpaceX went public, I warned everyone that blindly chasing high prices on the first day carried a high risk; I even predicted a 10% chance of breaking below the issue price. Now, the SPCX stock price has fallen from 230 USD all the way down to 153 USD, leaving only an 18 USD gap to the issue price of 135 USD.

The trend chart clearly shows that the overall trend has weakened throughout, exhibiting a downturn. Looking back, my initial predictions have mostly come true, but now the most concerning question arises: can 153 USD stabilize as the bottom?

To put it plainly, this price point is very likely not the bottom of this round.

Official Account: Big Bull Talks Market

Disclaimer: This is solely personal market thought exchange and does not constitute investment advice. The volatility of cryptocurrencies is enormous, and profits and losses in leveraged trading are at your own risk.

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