Some friends might think that Bitcoin's rebound to around 79k has already ended, and there are quite a few who chased short positions during the early morning pullback.

In fact, from a structural perspective, it has not yet topped out, or at least it’s not that clear:
First, the formation of a top on the 4-hour and higher timeframes is a relatively long process, because the market is not absolute; we only discuss it probabilistically.
Rarely does a decline start immediately after hitting a single high point; more often, it appears as a tower top or multiple tops.

Second, the entire upward channel is very well-formed. Here, it’s just a routine correction after touching the upper boundary and being pressured to the midline.
This week’s core logic is to focus only on the structure, not the price!
Honestly, during this period, there have been almost no stop-losses on long positions.
Following the trend, you can be right many times in the middle, but you only need to pay the cost of one mistake—if the price breaks below the previous low, exit.
This pullback should be viewed as part of the internal structure of the entire market, not the start of a new trend;

Therefore, yesterday’s short position above 79k was closed near the early morning low.
If there’s a second rebound, re-enter the market.
The resistance zone remains around 80k, and if it moves up again, continue to open shorts.
Chasing shorts in the short term is very unwise; only clear signals can justify a small shift to a larger move.
Currently, the low-long observation points remain unchanged.

— The above only represents personal opinions and does not constitute any advice.