Currently, from the daily chart perspective, BTC has entered a sideways pattern, and the V-shaped surge has not continued, indicating that bearish pressure above is increasing. As long as the rebound continues, it is recommended to primarily open short positions. The rebound in volume is insufficient, and the height of the surge is limited. I do not believe this wave can reach 120,000. Currently, the upper pressure is at 109,500.

On the four-hour chart, there is slight fluctuation. We are currently making a directional choice. If you are considering risks, you can lie flat and do nothing. However, my personal suggestion is to short around 109,000, with a stop loss at 112,500 and a take profit around 103,000.

The sentiment indicators are about to enter the risk zone, and it is not recommended to chase long positions; continue to wait patiently for spot trading. Before the Federal Reserve lowers interest rates, there will definitely be a strong downward move, and spot positions should be considered for entry. It is still recommended to primarily open short positions on rebounds.

In the matter of trading cryptocurrencies, in the end, it still relies on yourself.