$BTC 8.15 Bitcoin price today: Yesterday the market experienced a big dump, with Bitcoin dropping from 124,545 to 7500, a fall of 6%; Ether fell from 4,794 to 343, a fall of 7%, and small coins fell even harder. Fortunately, I had repeatedly reminded everyone a few days ago that the market had entered its final phase and turned into a bearish cycle. If everyone listened, they should have avoided this disaster.

From a macro perspective, Bitcoin has risen from 15,487 to 125,000, and the fifth wave could complete at any time. The target for the big cycle decline is a big dump of 50%, bringing it back to the 7,000 range. However, this is a trend that spans half a year, not something that will happen in one or two days. The mid-term structure was indicated on August 2, with the first target for completing the five waves set at 98,000, which is expected to be reached in one or two months.

According to the analysis, maintain the long-term structure of Bit and enter the bearish cycle unchanged. If there is a rebound around 120000, continue to short without any positions.