Bitcoin $BTC has fallen below 115,000, with no signs of a bottom in the short term. The daily chart shows some increase in volume, and a relatively full bearish candle has formed, with mainly consolidation over the weekend.
Resistance is at 114,000-115,000 above, and support is at 112,000-112,800 below.
Next week will be quite critical after the consolidation, as some key events will unfold. From the market perspective, the price of Bitcoin can be calculated near the support level. My ideal position is in the 110,000-112,000 range. The focus is on whether the small-scale structure can turn bullish in this range during the first half of next week. If so, I would directly buy the spot Bitcoin in this range!
At the beginning of the month, there was a sharp decline at market open. Just be careful not to repeatedly test the left side with contracts.
