After last night’s sharp sell-off, the intraday rebound peaked at 78,500. This confirms a new short-term resistance level. Keep an eye on the potential channel.

If price forms a new bullish structure and holds above 80,000, that could confirm a reversal on the shorter time frame. But if it makes another new low, the accelerated decline should be considered ongoing. The key is whether this leg down can find a bottom quickly.

Since it’s the weekend, I’ll share some trading insights! Duxun started out analyzing gold, silver, and crude oil for First Gold Network more than a decade ago. But technical indicators work across markets, so here are a few thoughts—sorry if they’re a bit rambling! If you don’t like them, please don’t flame me!

The people this market loves to punish most are those who see trading signals everywhere on the charts. If you can’t filter them or tell opportunities from traps, then with your high-frequency trading, you’ll eventually fall into plenty of traps. You might escape the first one by the skin of your teeth, but you may not be so lucky with the second or third! Another group that gets punished is people who want to trade three, five, or even ten coins at the same time. They assume that lots of coins move just like Bitcoin, so they go on a buying spree. Think about it: there are well over a hundred coins that could be correlated with Bitcoin. Are you going to buy them all? Can you buy them all? Have you considered that some coins might spring a nasty surprise? In the end, one big move could wipe out your entire position!

We all have limited capital, energy, and time. Do what you think is most worthwhile, but you can't do everything you want to do. Learn to be selective—only high-quality trading signals are worth acting on! Risk is always part of every trade we make. You can't avoid it completely; you can only minimize it as much as possible. There are many ways to make money, so find the field you're good at!

I've seen plenty of people get trapped after going all in on a single trade. And this year, I also met a friend who had 24 trades open at once. He asked me, “Du Xun, what should I do with these positions?” I panicked. My brain suddenly went blank, and for a moment, I didn't even know how to respond. I thought, “Damn, just reviewing all these charts one by one would take an hour or two. What can I say? What advice can I give?” In the end, he was stuck between not wanting to cut his losses and the risk of his positions being liquidated. A lot of people have been in that predicament, right?

People always have lots and lots of ideas and do lots and lots of things when everything is going smoothly. Then, when they're about to ruin themselves, they long to turn things around, find a way out, stage a comeback, and cling to all kinds of hopeful expectations! This vicious cycle follows many people throughout their lives. That's the truth—these are Du Xun's heartfelt words. If you don't believe me, think about your own trading and your own life. Isn't it just like that?

I hope each of you finds your own trading rules amid the struggles of your trading journey!