Time flies and it's Friday again, good morning partners!

The market always brings you unexpected surprises (or shocks). The joy belongs to the bears, while the fear belongs to the bulls. Overnight, Bitcoin underwent a deep correction to the 1003 line. Although we couldn't fully cash in on the 5600-point drop, it doesn't undermine our bearish outlook along the way. Currently, Bitcoin is supported at around 100,000, but the bearish trend is evident, so just follow the trend in your operations.

A large bearish candlestick closes on the daily chart, causing the price to drop below the lower support level. The body of the candlestick is full, and the moving averages and various indicators are all arranged in a bearish sequence, indicating a weak trend. On the 4-hour chart, after the previous attempt to break above 1068 failed, the price has been declining in a stepwise manner. Currently, a large bearish candlestick has broken the lower support, further confirming the bearish trend. Although there is a rebound at the moment, its strength cannot change the weak structure. Moving forward, we can continue to pay attention to the bearish downward movement.

Morning suggestion to short Bitcoin in the 1017-1021 area, targeting 100,000. If it breaks, continue to look down at 985-970.

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