In the four-hour chart, the reversal signals are very prominent: first a strong surge with consecutive bullish candles, then a sudden shift to consecutive bearish candles.
The bulls have tried several times to counterattack and regain lost ground, but their efforts have consistently fallen short, especially as they hit key resistance levels and then dropped back down. Recently, the rebound has also seen a noticeable decrease in trading volume.
Trading suggestion: Look bearish around 117500-118500 for Bitcoin, with targets around 115000-113500, and a long-term target of 110000.
