The movement of BTC in the past two days has not been significant, as it has been providing pullbacks and rebounds around the corresponding range and near support and resistance. Yesterday, after the US stock market opened, it tested the upper resistance at 112500 but failed to break it, subsequently moving down to around the lowest point of 110800. Currently, it appears that BTC has a certain rebound momentum, but the strength is not very strong, and overall, short positions still dominate. Therefore, before a clear trend reversal emerges, it is advisable to continue waiting for a rebound to then short.