Bitcoin's recent high-level consolidation has shown signs of fatigue. Even if it reaches new highs later, $140,000 is likely the ceiling for this round of market.
After all, the price is indeed a bit too high to be comfortable. The key point to watch is the $110,000 lifeline. If it can quickly stop falling and rebound at this level, the bull market may still catch a breath.
However, if it lingers around $110,000 for a long time, we need to be cautious about the risk of a trend reversal.
The best strategy right now is to patiently wait. Either wait for a breakout near $140,000 to find an opportunity to short heavily, or wait for a retest of $110,000 to confirm support before considering bottom fishing.
When the market direction is unclear, doing nothing is the best operation.
