Yesterday, the price of Bitcoin fell sharply. Even though there were several upward rebounds in the evening, the persistence was poor. We implemented a high short strategy yesterday, securing steady profits. In the early hours, Bitcoin attempted to test upward again, but the momentum was limited, and it faced resistance at key levels and fell back. Currently, the price is hovering around 118,000, showing signs of weakness in a tense situation.
From the daily chart, the bulls' fatigue is already apparent, and the overall trend is still tightly controlled by the bearish trend. In the short term, the bears still dominate. For the future market, we should focus on whether the resistance level of 119,000 can be broken. If it cannot break strongly, the high short strategy remains unchanged; if it breaks strongly, it may reverse upward.