8.20 Afternoon Thought Analysis:

From a short-term perspective, Bitcoin shows a rhythm of making a high point followed by a pullback, indicating that the bulls are still in a relatively strong trend.

After periodic adjustments at the daily level, the upward pattern is gradually being confirmed, with bulls increasing their volume, and the consolidation phase is relatively short, showing a slow upward trend.

These are enough to prove the signs of rebound accumulation. Do not short, otherwise, you will only face defeat.

After a pullback to around 113200, 112700, buy with a target of 116000, and continue to look towards the major 120000 level.