$BTC's spot contango is still declining, and it is now getting closer and closer to the 0 axis, the good news is that the previous futures and spot divergence has been eliminated, and almost every week will encounter this phenomenon of reverse operation between price and premium, and sure enough, the frequency of trading opportunities with high certainty and high win rate is not high... Back to the disk, we can see that the current state is similar to that in May, which is located at a relatively high level of shock, and the premium continues to decline, but the key thing is that the trend structure has not been destroyed, just like the current price has never been able to fall below 107k... Therefore, the follow-up ideas mainly focus on whether 107k can support this key factor. Although the downward trend of the premium represents the continuous supply of the spot market, because the price has not broken and fallen sharply, on the other hand, it also opens up room for the subsequent rise of the premium. Therefore, if 107k does not fall below, you can continue to be bullish, and if it falls below 107k, you need to defend a wave!