Morning Analysis: The recent downtrend of Bitcoin has shown significant fluctuations, with the price center gradually shifting downward. It can be said that Bitcoin is being pressured by Ethereum and some altcoins. At such a high level, there aren't many retail investors buying in. Previously high and mighty, it now feels a bit downcast and can only fall back to absorb chips, but it's not enough; it needs to drop below 1,100,000.
In the short term, due to the appearance of patterns such as 'Black Three Soldiers' and 'Belt Hold' candlestick patterns, the bearish forces are clearly dominant, and the downtrend may continue. Although the bottom formation once brought a brief stabilization, it failed to change the overall weak market. It cannot be ruled out that the price may continue to seek support around the previous low of 115,200.
Personal view from Shence: Short at around 117,600-118,000, with a stop loss at 118,500, targeting the area around 116,800-116,300. If it breaks, look for levels around 115,200-115,500. If it doesn't break, consider going long.
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