1. As shown in the picture, Bitcoin has plummeted to the support of 81,000, which is the previous low point of the decline, forming a double bottom, and there is a good probability that it can rebound a bit. What happens next? Will it continue to fall?

2. Undoubtedly, we are currently in a bear market, and it is not at the end of the bear market but in the middle. The candlestick chart is in a downward continuation state, and the final bottom has yet to arrive. I expect the bottom to start appearing around mid-year, with Bitcoin falling to around 50,000 to 60,000.

3. So the result is relatively clear, but there will be quite a bit of fluctuation and pulling in the process. In the short term, Bitcoin at 81,000 may not directly rebound; the market makers are likely to conduct a false breakdown test. If it recovers above 81,000, then consider adding a position to 84,000. Remember, only a false breakdown that recovers is good for buying; if it doesn't recover, then it is a true breakdown, and just ignore it.

4. If you are aggressive, you can choose to trade on the left side, going long at 8.1-8.2 million in the range of $BTC and eating the rebound, with a stop-loss if it breaks below the previous low. If it recovers again, you can re-enter, but only with a small position. A more stable approach is simply not to go long and to short directly on a significant rebound.

5. To be honest, in a bear market, everything declines. If you do nothing and remain completely in cash, you can outperform 90% of retail investors. Then you can go all in at the bottom around mid-year; holding onto your spot positions, the subsequent bull market could yield returns of 5-15 times without much issue.

So the small losses in the early stage of the bear market are not regrettable; as long as there are opportunities to buy the dip in the latter half of this year, everything will be recouped and even more profit will be made. If your skills are lacking, it’s better to observe more and operate less in a bear market, or you can follow Benqin's strategies.

6. A large part of the reason for this decline is due to the aftermath of the earnings season in the U.S. stock market, where all positive expectations have been exhausted, leading to a sharp drop. The cryptocurrency market has passively followed this decline. This exhaustion of good news in the U.S. stock market was something Shuqin mentioned to everyone a few days ago; those who didn't follow Shuqin might not even know why the drop happened, as the root cause lies in the U.S. stock market.

6. Personally, I have a short position of 600,000 U, and I have already taken profits on short-term positions during the recent decline, leaving 300,000 U in a long-term position to hold. Moving forward, if there is a significant rebound, I will reallocate to short positions. If there is no rebound, I will hold until the end, maintaining a passive strategy and waiting for the eventual bottom to arrive in a few months for a big move!