$BTC has been doing short-term analysis, today we will conduct a medium-term analysis: Bitcoin has currently fallen to around 86,000, starting the decline from the line of 126,272, which is a complete five-wave downward structure. It can currently be confirmed that the fourth wave has ended, and the market has entered the process of the fifth wave's decline. According to the normal structural deduction, the decline of the fifth wave has a high probability of breaking below the key low point of 80,537. The current internal structure of the fifth wave is still in a stage of intense oscillation. From the rebound at the line of 94,652, it can only indicate that a small-level segment has ended, followed by a re-entry into a new oscillation range. How this oscillation will evolve is currently unclear, but from an overall probability perspective, after the oscillation is completed, the likelihood of continuing to break down remains greater.

In summary, Bitcoin and Ethereum are still in a downward cycle, and the probability of Bitcoin's C5 wave breaking below the low point of 80,537 is high. One can look for rebound highs to establish short positions. (Personal opinion, not investment advice)

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