Although the current overall trend is still bearish, considering there is still some space above, it is still possible to focus on short-term long positions.

Currently, the bullish liquidity at the top has been exhausted, lacking the "fuel" to continue pushing upwards, while also maintaining a balance between bulls and bears—allowing the bears some space to "profit" and build momentum for the subsequent market.

From a technical perspective, the lower boundary of the bearish bull flag pattern on the hourly chart has been broken, which is crucial. Before reclaiming the area inside the flag pattern, it is indeed unwise to hastily take a bullish position; at this point, the lower boundary of the flag has instead become a short-term resistance level. If it does not return to consolidate within the flag range, the probability of a pullback will be much greater than that of an uptrend.

You can go long on Bitcoin around 118,000, targeting 120,000. If it breaks, look upwards. Everyone should strictly manage their defense.