$BTC 7.8 Bitcoin Trend Analysis
The overall target for Bitcoin remains at 130,000, and we are currently waiting for the final Y-wave downward washout.
If it reaches a high point, exceeding the small high of 110,530 on July 3, forming a leading wedge structure, the decline will be shallow, aiming around 103,000.
If it does not reach a high point, the decline will be deeper, targeting around 100,000.
Breaking below 106,700 confirms the arrival of the Y-wave.
Short around 112,000, wait for the Y-wave downward phase to complete before planning medium to long-term long positions.