Bitcoin has emerged from a V-shaped structure and returned to a high volatility range. This time, it is a test of breaking through the support level. If it does not stabilize within the volatility range, a second decline may be more severe!

The prolonged high volatility has essentially completed the harvesting of long positions at high levels with this decline, but it does not mean that it is over. Pay attention to the subsequent downtrend; if it falls below the support level of 118,000 again, it is likely to experience a larger drop.

Even if there is room to go long now, there is no reason to act. The risk-reward ratio for long and short positions is definitely insufficient. Be patient and wait for signs of a market reversal before acting. The key point is around 118,000, and an increase in volume will test 120,000. A weak increase is likely to initiate a second bottoming process. $BTC $XRP $SOL