8.5 Wednesday Morning Thoughts

Overnight, Bitcoin did not experience much volatility, continuing to operate with slight fluctuations. Although the price broke through 115,000 yesterday, it did not extend significantly, indicating that the upward pressure remains strong.

Currently, the short-term market is operating with a slow rising posture. Since hitting a low of 112,000 over the weekend, it has retracted some space, but technically, a strong pattern has not formed. Therefore, this slow rising trend should not be viewed as a reversal. The focus in the future should be on the 116,000 area; if it does not break, the outlook remains bearish. If it breaks, then we can consider taking action.

In the morning, it is advised to short near 115,600-116,000, looking at 114,200-113,600.