Bitcoin plummeted in the evening, in line with our short-selling expectations from yesterday. The overall market is leaning towards a fluctuating downward trend, but the decline is not strong. It is currently experiencing a channel drop, with bulls gaining strength, leading to a rapid V-shaped recovery. The short-term bulls are very strong, and for intraday operations, consider focusing on buying on dips.
Trading suggestion: Buy on a pullback to 117000-117500, with a stop-loss at 116500, and initially target 119500. If it breaks through, aim for the previous high around 123000.