There is still a large amount of trapped positions above Bitcoin, so it is important to avoid blindly chasing long positions. It is recommended to patiently wait for short-selling opportunities at high levels; if no high levels are provided, it is better to stay in cash and observe rather than chasing prices blindly.
From the perspective of daily chart movements, the short-term rebound has not broken and stabilized above the 120500 level, so the downward trend will still exist.
Personal operation suggestion: aggressive traders should short above 119200 during the rebound, while conservative traders should short near 120000, targeting 116300, 113200, and looking at a long-term target of 110000! $BTC