The current Bitcoin market continues to oscillate in a bearish pattern. After the previous downward trend line was broken, short-term bears have consistently dominated. As judged last night, 'going back to where it came from', the target looks towards the 112,000 position, and the actual market not only met expectations but ultimately touched 110,500 during the intraday segment, capturing 2,500 points in a short position. This trend not only verifies the strength of the bearish trend but also further releases strong bearish momentum.

From the indicators, the short-term pressure of the middle and upper bands of the Bollinger Bands remains effective, with price rebounds consistently constrained. Although the lower band briefly provided support, the impact of a single large bearish candle (with an entity dropping over 4,000 points) in the early morning significantly weakened the support strength. Currently, the market is in a technical adjustment after a strong downward move, but this is not a stabilization signal—under the short-term tug-of-war between bulls and bears, the price will still exhibit a seesaw oscillation, making it difficult to quickly reverse the bearish pattern. Specifically for the 'Bitcoin futures' hourly cycle, it quickly fell after a brief surge, currently running below the middle band of the Bollinger Bands, with the bands overall converging, showing a state of oscillation and consolidation; the hourly line of 'Ethereum' exhibits a similar performance with the Bollinger Bands, also lacking a clear direction. Overall, the morning trading strategy remains primarily focused on shorting.

Morning trading strategy: short directly at 113,500-114,000, with the target looking at 112,500.