Let's get to the conclusion first: it's not done falling yet! The market's rise and fall logic over the past month is very clear: it rises ahead of the interest rate cut, then on the day of the rate cut, it starts to plummet as the benefits are fully realized, and it won't just drop for one day; it will at least fall for 1-2 weeks.
So the operating logic for the next two weeks is to short at highs, or just hold onto the low-leverage long positions entered last night. The small support levels are around 3130 and 2940, but the final pullback is likely to reach the previous low around 2700.
In the short term, the drop has been a bit excessive, falling directly from 3450 to 3170, which is nearly a 10% drop, so chasing shorts isn't very worthwhile. It might be better to wait for a rebound to around 3250 before shorting.
However, those who often watch our program shouldn't have concerns in this regard, because we have long since gone all in short at the nearly 3400 resistance level, so we are not considering where to short, but rather where to take profits in batches. The levels can refer to the several support levels I posted above.
Then ZEC exploded as expected, we repeatedly indicated to short at the 450 resistance level, and now it has been shorted explosively. BCH also reached the short-term target of 550, and our full short positions finally returned with gains. We can consider taking some profits because we were really all in last night, and we need to take some profits to gain bullets, while also looking for a rebound for a short-term play. As for the other positions, I will hold them long-term, as there is significant room for a long-term pullback. This wave, a great victory!
