Bitcoin followed the futures surge yesterday, then began to decline sadly, accompanied by a continuous increase in short positions.
With the reduction in ETF inflows, yesterday's pullback did not complete during the day. The small level continued with a downward oscillation. Does this mean that a shift to a bearish trend is imminent?
After confirming the pullback to 1185 at the 4H level, we can see that bulls have actively intervened, but the subsequent volume has not followed, indicating that more capital is hoping to buy at lower positions.
The daily level pullback position below can be observed around 115. After stabilizing, we can proceed with a low long position.
Upper resistance: 121100/123230/126800
Lower support: 118500/117200/116400/115500