Thought Process Analysis:

Currently, the fundamentals are relatively bearish. After a breakout from the range-bound consolidation, there has been a volume-driven decline. Since the move has already seen increased volume, the downside space won’t be limited to just this much; there is still room to keep probing lower. At the same time, the key support level below has been broken, which also confirms that the bears’ momentum still has some continuation. Under this kind of price action, it is more prudent to short in line with the trend. Wait for the price to pull back toward the area where long positions are concentrated for liquidation; then decide whether to go long again based on the strength at that time. For now, the rebound gives an opportunity to set up a high-position short.

Trading Advice:
Big Cake: Pull back to 75,000-75,300, target 73,500
Ether (Yitian): Pull back to 2,370-2,400, target 2,300
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