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Bitcoin surged to around 120,000 yesterday but faced resistance and fell back to around 117,400.

Yesterday's real trading short position gained 2,000 points in profit.

The market will continue to oscillate within a range during the day, with the overall trend still favoring high shorts and low longs.

The daily structure alternates between bullish and bearish, and has not provided a clear directional signal, so chasing highs is not recommended.

The 4-hour MACD is in a converging state, indicating a certain level of market hesitation.

Trading suggestions:

Short Bitcoin at 119,500-120,000.

Target: 118,500-118,000.

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