The daily line of Bitcoin has closed below the strong support EMA20 line of 115,000 USD, indicating that the daily trend has entered a pullback cycle. Maintaining the previous view, it is highly likely that the market will need to pull back to the 108,000 USD weekly level of support to have a chance of stopping the decline. Holding short positions.

Daily support levels: 108,000-110,000, resistance levels: 116,000-118,000.