$BTC 8.20 Bitcoin Trend Analysis
The medium to long-term outlook for Bitcoin remains bearish, focusing on short positions during upward cycles.
There is support near 112000, observe whether it rebounds before breaking down or breaks down directly, which would form an M top.
The first target for the decline is around 98000, and the second target starts with the number 7.
No changes to medium to long-term short positions.