Bitcoin Trend Analysis Today

BTC Intraday Support: 116,500-117,500
Intraday Resistance: 118,500-119,200

BTC continued its intraday correction and broke down, with support shifting to 116,500. The overall trend is weak, so be wary of further declines that could trigger a daily decline. Until a clear breakout occurs, we recommend a rebound-to-high-short position. The market continues to decline below the four-hour support level. If the daily rebound fails to hold above 118,500, the rebound will be weak, and the decline will continue, forming a downward continuation. Long positions should be taken with caution until the price effectively breaks through the 119,200 resistance level.

Day Trading Plan:

Enter short positions when the price reaches 118,500-119,200.