⚠️⚠️Attention!! Bitcoin has currently entered a downward channel, and it's not necessary to go short; definitely do not chase long positions.

Bitcoin at 120,000 has opened a small short position, betting that Bitcoin will not directly break through and surge to 140,000 or even 150,000 USD. Although it recently broke a new high, this can be understood as the first test of this major bull market; there will likely be at least one or two more tests. The best opportunity for spot traders to enter the market is during each pullback, and they can enter when a bottom signal appears.

The current market situation for Bitcoin is at a high level; before the next new high breakthrough, a waterfall decline event is highly probable. Do not be afraid; the worse the drop, the heavier the spot entry! Contracts should be executed according to trading strategies.

This short position can exit around 115,000, with a profit of 5,000 points. If it cannot return to around 120,000 in the short term, the next phase will be a market weakness period, primarily focusing on pullbacks. Regardless, the possibility of continuing to make new highs in the short term is very low, and the idea of going long can be temporarily set aside.