Currently, Bitcoin is in a slow recovery trend after a major correction. The impact of large holders selling seems to be gradually fading, but the bearish engulfing pattern suggests a potential downward trend. Jin Dachuan makes another bold prediction, estimating that the peak of the slow rise will be around 120,000, followed by another drop to around 115,000.

We recommend high short positions above 119,500 and low long positions below 115,500.