Bitcoin created a CME gap on Monday. If it is to fill the gap, it is likely to drop to around 117,500.

However, this gap-filling position coincidentally aligns with a potential point for Bitcoin's bullish flag channel breakout retest, so this current position is also a potential pullback point to continue looking bullish.

As for what Egg mentioned yesterday about being bullish on 120,000 after wiping out this liquidity, a false breakdown or a large bearish candle is a good bearish signal. Since it hasn't occurred yet, one might consider giving up. The take-profit position after a short trade that appears later is also 117,500#BTC .