Monday Morning Bitcoin

Bitcoin bottomed out at 110,600 early this morning and is currently fluctuating around 113,600. Bitcoin's decline is primarily driven by news. While there has been a slight short-term rebound, it remains trapped by a bullish trend. Focus on the resistance level of 114,000-115,000. If a strong upward breakout fails, the probability of a downturn is high.

We recommend trading around 113,700-114,100 this morning, with a target of 112,000-110,500. If there is no breakout after this decline, consider a reverse move.