$BTC Since breaking the new high to 123300 and experiencing a significant pullback, the market has been trapped in a seesaw battle, which has been ongoing for over half a month. In terms of the duration of this seesaw, a new trend is approaching. If last week the market did not move in a trend, the highs and lows were perfectly parallel, moving in a parallel range, then today's decline breaking the bottom and breaking through the parallel support is different. This is a clear signal of a trend. However, there is still the non-farm data tonight. The hawkish old Powell managed to come back up the day before, so the resistance remains strong. It's hard to say if it can go down during the day; there have been too many false moves recently, and the market structure keeps changing. The trend seems to be approaching, yet it cannot break out, which is forcing those chasing the trend to get caught. But this is the closest it has been to a trend this time...
The white board cannot go down much more; it will still be in a volatile structure before the non-farm data tonight, first needing to consolidate and build momentum for the evening. Then we will see the fundamentals tonight. If it continues to weaken, it will first test 113750; breaking that will lead to around 111500. Overall, the trend is in a dominant position, allowing for a rebound to continue the trend.