Yesterday, Bitcoin was suppressed by 113400 and went down, and the market has not recovered since. It was even more obvious at midnight, with a slight rise immediately followed by a fall. The bulls had no strength to counterattack at all. The bearish trend is now clearly visible, and the 4-hour level also shows a slightly bearish tone.

​The momentum of the previous big Yang line has long been exhausted, and now the bulls are struggling to hold the current price, let alone rush upwards. The upper rail of the Bollinger Bands is pressing tighter and tighter, and the price center is constantly moving downwards. It is no longer the tug-of-war it was before. The bears are dominating the weak trend. The "stage low" set by the previous big Yang line is more like a resting place for the bears and will not last long. Now the inertia of the bears' suppression has come out, and the bulls can't even muster a decent counterattack. This wave of bears is probably about to explode - as long as the current temporary support is broken, the downward space can be opened at any time.

Early morning trading strategy: Short directly at 112500-113000, with a target of 110000.