Hello, everyone! I’m Du Xun! This morning, we saw a sharp drop on increased volume. This move came after yesterday’s price twice surged to 81,800. It looked as though the price was about to stabilize above 80,000 and start a new rally. But it began turning down late yesterday evening, then accelerated lower this morning. The price has now slipped slightly below 80,000 again. The key support zone below is between 80,000 and 79,000, so this is a crucial area. If this key support—which is currently the only effective support—breaks, I believe we could see an accelerating sell-off rather than a prolonged, gradual decline. It could be a sharp drop that takes us straight to the bottom. Exactly how far the price could fall is hard to say for now, but I don’t think there’s much room for further downside from here. Overall, I remain bullish on the larger time frame. There is certainly some uncontrollable risk in the short term, so lately we’ve mainly been trading short-term moves. As for medium- and long-term positioning, you can wait a little longer. If you’re building a position on the left side of the chart, be sure to manage your risk. After the Fed’s interest rate decision last night, U.S. stocks also experienced a sharp drop. Google in particular fell by 8%. The U.S. stock market took a major hit, and Bitcoin also fell in tandem. But we can see that Bitcoin’s decline wasn’t as steep as that of the U.S. stock market. It fell at the same time, but not by the same amount, so it has held up relatively well. The current accelerated decline hasn’t stopped yet. The key thing to watch next is whether support between 79,000 and 80,000 can halt the drop again. This is extremely important. For the larger time frame, we believe we’re near a relative bottom and remain bullish. Yesterday, the price broke above 80,000 and held above it, testing above 81,000 twice. We therefore thought that 80,000 might provide effective support during this pullback, so I also think it would have been quite risky to bet on a short at these high levels. On the four-hour chart, this is still a downward consolidation. In terms of the actual price move, it fell from a high of 87,000 to just over 79,000—a drop of several thousand points, but less than 10,000.If this week also closes lower, that would make four consecutive down weeks on the weekly chart. Everyone, during past bull markets, we’ve rarely seen four consecutive down weeks. In other words, before a new high, let’s look at whether there were four consecutive down weeks before the previous bull-market high, for example. There weren’t. Even during sideways moves or pullbacks, bearish and bullish candles kept alternating. In the current move, though, before a new high, we’ve had four consecutive down weeks at this point. And these aren’t just small-bodied candles—the declines have had real range. So four consecutive down weeks here is a fairly rare kind of correction, although the actual decline hasn’t been as large as you might think.So, as I just mentioned, if this key support zone below, between 79,000 and 80,000, breaks—and pay attention here: if support between 79,000 and 80,000 breaks—then we could see a sharp, high-volume sell-off. Why? Fear in the market could be triggered at this level, setting off a new wave of panic. If this level breaks, the decline won’t be gradual; the price could fall further. I personally think there could be a rapid sell-off. How far could it go? That’s really hard to say. We can only make a prediction from a bearish perspective: a sharp sell-off could test the lower boundary of this channel, which is around 78,000. The price could dip below 78,000 with a long wick. I think that would be the final leg down. So if we move lower from here, I believe that if the key support zone between 79,000 and 80,000 breaks, that will be the final leg down. It would be difficult for the bearish structure to keep extending much further from there, so it could be the final leg down. As for the many of you asking whether we could reach 75,000, I think that’s highly unlikely—quite unlikely. That’s my personal view. So I recommend that anyone who hasn’t bought spot yet place staggered limit buy orders around 78,000 and 76,000! If you’re trading futures, use a stop-loss. If 79,000 breaks, exit—don’t fight the market! Wait until after November 3 to enter on the right-hand side. I’m Du Xun. That’s all for today!