The main risk of shorting Bitcoin lies in the public hearing held by the Brazilian House of Representatives tomorrow at 8:20 regarding the PL 4501/2024 bill (i.e., the Brazilian Sovereign Strategic Bitcoin Reserve Act) and whether it will pass, as well as whether its passage will incentivize another upward movement.

Of course, the technical pressure still exists at 115.7-116, and it is still possible to look for entry at 112, but one must be prepared for risk management.

Therefore, if you are looking down, you must be well-defended, and if a fixed defense must be given, placing it at 117 is more reasonable.