BTC, the morning continues the thoughts from the early hours. The 4-hour chart is still in a downward channel, and the rebound is merely for a better decline. Do not rush to bottom-fish; let's observe a bit longer!

The 4-hour chart's moving average system shows a bearish divergence, with MA30 crossing below MA60, indicating that short-term bearish forces dominate. The price is likely to continue its downward trend under the pressure of the moving average system.

Suggestion: Short near 112500-113200, target around 110000!