The overnight Bitcoin price has fallen sharply. Although the price rose last night, it does not affect our determination to continue shorting. A clear top has formed, with a long upper shadow indicating a top signal. The K-line has temporarily halted its upward momentum, and the moving average is also pausing its upward movement, showing a clear downward reversal. Shorting is inevitable!

The four-hour chart is still in a downward trend; at least the K-line remains in a downward channel. The K-line continues to hold above the moving average, and even if there is a rebound, it is still a large bearish candle that can push lower directly. The rebound strength is getting weaker, so just maintain a bearish outlook!

Bitcoin recommendation for Friday morning:

Short on the rebound at 117850-118350, with a target looking down to the 116000-115500 range!