From the daily chart perspective, Bitcoin experienced a significant fall on October 11, plunging over 13% within 24 hours, with a low reaching approximately $102,000. The daily chart formed a bearish belt hold, indicating strong short positions. As of October 12 at 00:10, the price of Bitcoin was $111,800, still in a downtrend, with the candlestick pattern showing a evening star, which is a bearish pattern, and the moving average system showing a bearish arrangement, indicating that market momentum is skewed downward.

From the 4-hour Candlestick chart, as of October 12 at 9:40, the most recent 4-hour Candlestick shows a significant price increase compared to 08:00 on October 11, but the last Candlestick is a Bearish line, with a closing price lower than the opening price, presenting a bearish engulfing pattern. Trading volume has decreased, and market trading is not active. The MACD histogram remains negative but is gradually shortening, indicating that the bullish forces are strengthening, but it is still in a short positions-dominated situation.

Currently optimistic about short positions! #BTC