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A new low is just one step away
1. The market generally expected a rebound to 100,000 after two months of rally, but the cunning dog whales stopped at 98,000, initiating a new round of decline.
2. Yesterday's decline saw increasing trading volume, and we are now just one step away from the previous low of 80,600. It is expected that breaking below the previous low to create a new low will trigger long liquidations, leading some short positions to cover, causing a brief rebound. There is no need to chase short positions here.