The overnight pancake soared to the sky, and under a strong trend, the coin price surged all the way up to 112000 before stopping its ascent, creating a new high point once again. The overall structure is driven by bulls, with all levels centered around bulls. However, the more it is at this moment, the more one needs to be rational.

From the perspective of the market, in a strong environment, the bullish energy has already been released. At this point, it is obviously not suitable to chase long positions to avoid getting caught at the peak. On the daily chart, a short-term double top is forming with the previous high, and the overbought phenomenon is significant on the 4-hour chart. For the day, it is advisable to treat it with a high short position.

It is recommended to short near 1115 and 1120 for Bitcoin, looking at 110,000. If it breaks through, continue to look down to 1090-1080. If it does not break through, go long.
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