Looking at Bitcoin today, before yesterday's data came out, the market had already priced in a decline. It fell first, and then fell again after the data came out. After entering the oversold zone, the bearish selling was eliminated and the market entered the vacuum oversold period. The market rebounded in the early morning. After observing that the volume and position did not change much, the main thing to pay attention to in the near future is still the position. We mentioned before that we are in the liquidation leverage stage. If the position expands rapidly in the short term, there will be a chance to get out of a short market first and then continue to liquidate long leverage. After all, most people who do contracts still like to be bullish when it goes up and bearish when it goes down, so it will be reflected in the contract market. Everything will turn around when it reaches its extreme.