$BTC

Bitcoin rebounded after reaching the 112000 position from 75000, encountering the first support at the 100000 position, but did not reach the previous high of 120000. Therefore, the fluctuation range is as shown in the diagram (the upper black rectangular area 100000-112000).

Currently, the trend is near the lower edge of the fluctuation range, with two previous resistance points above, so the current pattern has formed an M-top structure. If the support at the lower edge of 100000 does not appear effectively, then the M-top pattern will be established. If the support is effective, then a W-bottom pattern will be established in the range.

The upward trend line from 75000 to 112000 has broken, and the price of 100000 is a key sensitive position recently. If it breaks down, the upward trend since 75000 will show a definite termination and reversal. There is a high possibility of quickly reaching around 92000 to seek whether the support is effective.

My short position remains open until I observe a significant volume support at the 100000 position that is effective before considering closing or adding to the position #加密市场回调 .