Last week I insisted on a downward break and advised against going north. I don't know if everyone took that in. It was only on the last day, Friday, that it began to break down. The lowest point was around 112000, just at the target I provided. I'm not sure if you managed to hold your positions. This morning saw a wave of upward movement, but the thought process remains unchanged—still heading south. Any rise gives us an opportunity.
From a technical analysis perspective, the daily level has completely broken down. Although there is a slight upward adjustment, once the direction is formed, it's hard to change. The MACD shows increasing bearish momentum, and we hope to slowly test the 110,000 level. In the short term, it may be hard to find a place to enter around 8000. The area around 5000 is also an important node, continuing south.
Bitcoin trading suggestion: 114800 south
Target: 110500