Any position in the morning doing the kong is a small waterfall. This wave of bearishness is successful; it all depends on whether it can rebound as expected at the support level. Hope everything goes smoothly!

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.