BTC and Bitcoin recently broke through the historical high, reaching around 123,200. How should we proceed next!

This round of increase is not driven by market sentiment. With institutional involvement, policy effects, interest rate cuts, and various factors, this is not a substantial increase; we should be cautious of a market crash!

The 4-hour chart previously showed a series of bullish candlesticks, with strong bullish momentum. However, the KDJ indicator is gradually forming a convergence dead cross at high levels, and the hourly chart has consecutive long upper shadows, indicating significant short-term pressure above and a need for technical correction.

It is recommended to short at 112,000-112,500, targeting around 110,000!