$BTC price quickly fell to 112K after breaking the 4H structure neck line at 114K, and is currently consolidating between 112.5-112.8K. This is a passive stabilization after a rapid decline due to deleveraging, rather than a buying accumulation. Currently, the main strategy remains short on the rebound. The upper resistance at 114 is a bearish defensive gap; if the rebound is unstable, it may extend down to 111.2-110.5K.
If there is a pullback to 113.7K-114.3K, consider entering a short position again, with a target near 111.5K. If it breaks above and stays above 114.8K, then exit the position.
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Market data interpretation:
$BTC price quickly fell to 112K after breaking the 4H structure neck line at 114K, and is currently consolidating between 112.5-112.8K. This is a passive stabilization after a rapid decline due to deleveraging, rather than a buying accumulation. Currently, the main strategy remains short on the rebound. The upper resistance at 114 is a bearish defensive gap; if the rebound is unstable, it may extend down to 111.2-110.5K.
If there is a pullback to 113.7K-114.3K, consider entering a short position again, with a target near 111.5K. If it breaks above and stays above 114.8K, then exit the position.