I looked at the current situation of both bulls and bears regarding #BTC . The open interest has not significantly declined, and neither side has surrendered yet. It is expected that the first wave of bullish defense will break at around 113000~113200, and if it does, we need to continue going down. The second wave of bullish defense is near 112000. Most bearish defense is around 114000, and if it breaks 114000, a large drop is expected.