BTC surged to around 119800 yesterday morning, encountered resistance at the 120,000 mark, and started to pull back in the afternoon, reaching a low of around 117400. This is completely in line with our insistence on a bearish outlook yesterday, successfully capturing a pullback space of 2400 points.

Analyzing from the daily chart level, the price of the coin is once again approaching the lower end of the consolidation range. Currently, the bears are dominant in the market. Due to the ongoing fluctuations, the Bollinger Bands are rapidly narrowing, and the price of the coin may face a directional choice in the short term.

Looking at the four-hour chart again, the coin price shows a continuous downward trend. Although it has now broken through the middle track, it is still in a range-bound fluctuation pattern and has not yet formed a strong one-sided trend. Based on this, we can continue to reference the previous high position and plan for short positions.

BTC: Short in the range of 118500-119000, target 117000, looking at 115000 in the long run, everyone should strictly maintain their defenses. #Gate Launchpad IKA上线# #BTC#