Bitcoin Market Analysis

The target of 112,000 predicted yesterday has been reached, and the market is currently maintaining a weak pattern. All rebounds lack sustainability, and it is recommended to avoid blindly bottom-fishing while keeping a short-term bearish outlook. Trading strategies must be adjusted promptly with market changes, and one should avoid excessive stubbornness.

Core Views:

1. $124,545 is highly likely to become a mid-term top.

2. Today's key resistance level is $116,900; a breakout is necessary to initiate an effective rebound.

3. The range of $110,500-$112,000 is an important support zone; a failure to hold this level will trigger a larger adjustment, with downward targets pointing below $100,000.

Operational Suggestions:

Maintain a short-selling approach during rebounds, with a focus on the performance of the support zone. If it effectively breaks below $110,500, consider increasing short positions.