From a technical perspective, the current bearish strength in Bitcoin dominates based on the hourly candlestick chart. The bullish rebound over the previous two days has not sustained and was immediately met with bearish pressure, resulting in two consecutive bearish candles. The price is constrained by the middle band of the Bollinger Bands, making it difficult to break upwards. Considering the overall downward trend has not shown a significant reversal, and the bulls' multiple attempts to break key resistance levels have not been effective, this suggests a high possibility of continuing the downward trend. In the hourly candlestick chart, the market has broken below the middle band of the Bollinger Bands with three consecutive bearish candles, further confirming the release of short-term bearish momentum, indicating that bearish strength is actively gaining momentum. Overall, the current technical situation shows a clear bearish dominance, with a high probability of continuing the short-term downward trend.

Evening operation strategy. Short directly at 111200-111700. Target at 109000