After midnight, Bitcoin slowly rose to around 115700 before facing pressure and falling back. It is currently consolidating in the 114900 area, and this trend conceals a deep contest of forces between bulls and bears. From a short-term perspective, the pressure above is particularly evident. The current high point forms a "double top" pattern with previous short-term pressure, which signals an imbalance in the contest between bulls and bears in key areas. The price has encountered resistance and fallen back after two attempts to reach similar highs, indicating that the selling pressure around 115700 has significantly surpassed the buying pressure. The bullish momentum continues to be consumed through repeated testing, as if repeatedly attempting to break through the same level but failing to do so, the strength of the attack naturally diminishes over time.

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The "six consecutive bearish candles" on the hourly chart are in resonance with the "three consecutive bearish candles" on the four-hour chart, further solidifying the certainty of this momentum shift: the continuous decline on the hourly line not only breaks the previous slow upward trend but also drives the short-term moving averages to turn down simultaneously, creating a dense suppression; the three consecutive bearish candles on the four-hour level confirm the dominance of the bears from a slightly larger cycle, with each bearish candle continuously eroding the previous rebound space and firmly locking the price in a weak range. The current sideways movement around the 114900 area resembles a brief consolidation of bullish and bearish forces rather than a reversal signal—after all, if the bulls truly had strong intentions for a counterattack, they would not still be unable to organize an effective rebound after six consecutive bearish candles on the hourly line and three consecutive bearish candles on the four-hour line. This kind of "stagnation" precisely exposes the lack of upward momentum, akin to an exhausted team after a long battle, where temporary respite cannot mask the overall weakening of their sharpness. Therefore, intraday operations should clearly avoid the risk of chasing highs and maintain a bearish outlook as prudent.
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Morning trading strategy: Short directly at 115000-115500, targeting to see 113000.
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