Friday: Recovering upward difficult to stabilize, downward movement continues will break the low

The overnight market showed a continuation of the bearish trend, failing to meet the demand for sustained upward movement from most bulls. The recovery strength is obviously insufficient, and the overall rhythm still maintains a weak pattern. It is expected to break this week's new low.

From a technical perspective, on the four-hour level, the operating channel continues to open downward gradually. The price is under pressure, and the recovery at the middle track is hindered. The bulls do not have the ability to maintain momentum, and the downward movement in the small cycle is difficult to stop. The strength of the recovery is also weakening, and further downward breaks are likely.

In the one-hour level chart, after the price recovers and faces pressure at the 115000 mark, it moves down again, opening up a downward channel that makes it difficult to build a bottom and rise. Although there is an attempt to force the bulls with a fluctuating sentiment, the available space is limited, and there is no demand for a rebound.

Today, we will maintain a high position in our thinking.

I personally suggest shorting in the 112500-113000 range, and watching 111500-111000 #BTC# .