Bitcoin suddenly dropped over 4000 points in the early morning, leaving the market in despair and truly suffering. The recent cryptocurrency market has been quite dramatic, characterized by rapid rises and sharp falls, which is indeed a bit ominous. This kind of movement is very unethical. Although the coin price has rebounded somewhat, the overall trend has shifted after the large drop.

This morning, there was also a second dip in the 1-hour chart. Therefore, the next step is to sell high first. The upper pressure zone is suggested to arrange positions between 114000-114500, while looking at the possibility of breaking below 112000. If it effectively breaks down, then continue to look down towards 120000.

【WeChat Official Account: Duan Chenbei】

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