In the Bitcoin market, technical indicators are often overemphasized. Let's take a different perspective and analyze the current situation from the angles of market sentiment and volume.

Bitcoin has shown a fluctuating downward trend after reaching a new high of 123,300. This trend has caused many investors to lose confidence in going long, leading to an accumulation of short positions. However, this may be just the time for market manipulators to harvest.

In this trend, how can we gain an advantage? The key lies in adopting reverse thinking. When most people are bearish, we might consider being bullish.

Currently, the price of Bitcoin is around 118,600. If it pulls back to 117,800, one could consider establishing a long position. If it further drops to 116,800, one could consider adding to the position.

Overall, at this stage, the market's pullback may provide opportunities for the bulls. However, investors should act with caution, fully assess the risks, and make decisions based on their own investment strategies and risk tolerance.

The market is always full of uncertainty, but by deeply analyzing market sentiment and trading trends, we may discover some investment opportunities that the public overlooks.