Analysis at 7:19 AM

From the 4-hour cycle observation, Bitcoin has gradually retreated from the peak at 123240. Yesterday's peak was at 120800, and it is currently oscillating around 117650. On the support level, 117300 has formed a strong support. If this position is effectively broken, we can pay attention to the support strength at the previous low of 115600.

Looking at the 1-hour cycle, the selling pressure has clearly increased, showing a trend of four consecutive bearish candles, with short-term selling momentum prevailing. Considering the current trend, it is suggested to take a short position in the early hours today, focusing on the key support level of 117300.

Suggestion:

Bitcoin: It is advisable to sell around 118100-118500, targeting 117000-116300.

Second Bitcoin: It is recommended to sell around 3580-3620, targeting 3540-3500.#BTC走势分析