Yesterday, Bitcoin surged before quickly retracing, and the rhythm of the market has somewhat paused. In the short term, it may enter a period of consolidation. Currently, there is strong resistance around the 108,000 level, with short-term support located near 105,000.

From the current market perspective, there are numerous obstacles for bulls this morning, and it hasn't continued like the previous days. This wave of correction is also inevitable. As mentioned last night, either there is no correction, or if there is, it will be a several thousand point correction. I initially thought the market would be strongly one-sided and wouldn't give us room for correction, but the violent sell-off was also something we couldn't foresee, so having a defensive strategy in trading is a necessary action. This morning, we can first short and then long for our layout.

Bitcoin Strategy: Short around 106,500, target 105,000.