#数字货币市场回调 is currently stuck on the brink of life and death, with both bulls and bears holding their breath waiting for the final strike.

What can be seen on the technical chart? Although there has been a rebound after the initial sharp decline, the bears are clearly dominant. The price is firmly suppressed by the long-term moving averages, and the range of 87000 to 90000 dollars feels like a wall; before a significant breakout, this surge is mostly just a trap for the bulls. Looking downward, 84000 dollars is a critical point; if it can't hold, the rebound will be completely over, and the next stop is likely heading towards 82000. What's worse is that the current downward momentum is strong, and the rebound strength is weak, with market sentiment already quite pessimistic.

Look at the liquidation heat map again - this is the real battlefield password. The area above is filled with stop-loss orders from long leveraged positions, and the shorts are eyeing this piece of meat. Once the price rebounds to the right level, the longs will get liquidated, adding to the selling pressure, which will be quite a scene. On the other hand, stop-loss orders from shorts are hidden below $82,000 to $84,000. If the price drops quickly to this level, it might force a short squeeze rebound.

How to play? The strategy is clear: the main tone is to short on rebounds, but we need to be wary of rapid reversals triggered by the liquidation zone below. If it really breaks through the defense line of 87000 to 90000, then space will open up; if it falls below 84000, it will head straight for 82000. The main force might pull up to the upper liquidation zone to harvest longs, or it might directly break through 84000 triggering a deep V—both scenarios need to be prepared for.

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