Since BTC's strong breakout above 75,000 in early November last year, marking the start of this round of market movement, the market has experienced several sharp fluctuations. After first reaching 110,000 at the end of January this year, it then declined all the way down, but successfully held the 75,000 level in early April. Subsequently, the second rally broke through the historical high of 126,200, only to face a sharp correction shortly after, currently hovering around 80,000. Therefore, spot traders should pay close attention to whether the 80,000 to 75,000 range is at risk of being broken again.

In the past one or two weeks, the market has been oscillating within a large range of 84,000 to 94,000. This range has become the most intense battleground between bulls and bears, with various funds fighting fiercely here. More importantly, the 87,000 level has been tested multiple times—over ten times—raising the question of whether it can hold. For those holding short positions or locked-in orders, whether this level can be defended directly impacts your chances of salvation.

During the weekend, when the market was relatively quiet, let's review the details of this period. Contract liquidations, spot positions being trapped, operational mistakes, indicator failures... Instead of dwelling on these, it’s better to analyze where exactly you went wrong from the beginning. Only by understanding why you got cut can you stand a better chance of moving more steadily next time.