Good morning, friends! I guess many people woke up and were confused when they opened their eyes to the market? Early this morning, Bitcoin plunged nearly 5000 meters with a sharp drop; I wonder how many traders were buried this time. However, those who followed my rhythm should have had enough to eat. But it cannot be denied that the profits from yesterday's market can provide so many opportunities, although there is certainly some luck involved. But isn't luck also a manifestation of strength? If one cannot even distinguish the most basic direction, how can they seize this wave of benefits?

From the current market perspective, Bitcoin experienced a violent plunge early this morning, and the recovery strength is acceptable, currently returning to around 113500. The daily chart shows two consecutive bearish candles, refreshing the low point of this round of adjustments in a near washout manner, with moving averages forming a death cross. Trading volume is also increasing in conjunction, and during the weekend consolidation period, such a pattern has emerged; the current trend is obviously leaning towards bearish. From the four-hour timeframe, after five consecutive bearish candles, Bitcoin closed with a hammer bullish candle, effectively digesting the remaining bearish sentiment in the market. The bearish momentum has not shown signs of exhaustion, and it is expected that after consolidating, it will launch another downward attack. Combining with the hourly timeframe, during the four consecutive small bullish candles recovery, trading volume shows a divergence, forming a shrinking upper shadow pattern, which will inevitably limit its continuity. In the early market period, we will continue to maintain a bearish outlook to place our strategy.

Bitcoin: 113500～113800 bearish, target below 111800. $BTC