It's that time of year again. Reflecting on the year's market trends, the deepest takeaway is this: never hold on stubbornly in futures trading.

The current market atmosphere is very intense—obvious control by the big players, sentiment-driven movements, and traditional logic being repeatedly broken. Under these conditions, a significant reversal and pullback are highly likely to occur. Of course, ultimately, the market will have the final say.

From a macro perspective, the rate cut window in January is approaching. Looking at historical data reveals a pattern: these times are often characterized by "strong expectations followed by downturns after implementation." Following this logic, Bitcoin is likely to retest the 80,000 level.

The biggest taboo in futures trading is one word—"hard." Getting emotional and stubbornly holding on usually results in a harsh outcome. **Those who truly survive long-term rely on trend-following adjustments and taking profits when necessary.** The previous high-level shorting strategy has already received phased feedback from the market.

Based on the current position, considering the rate cut expectations and the current sentiment, there is limited room for a short-term rally, and instead, a deep correction should be watched for.

What does technical analysis say? The 98,000 resistance level is quite obvious; breaking through it in the short term is difficult. Once the 94,300 support is broken, the market will likely head straight toward the 91,800 zone. Overall, the logic remains leaning bearish.

In terms of operation: focus on the resistance around 96,000 to 96,800. The area near 97,800 can be seen as a structural supplement zone, with a stop at 98,300. The target is around 92,000; if it breaks down effectively, further downside could reach 89,000.

At such a market crossroads, patience and discipline are most needed. Keep the rhythm steady, always prioritize risk management, and leave the rest to the market to unfold.