Bitcoin 103700 below the long single can eat a wave of rebound, but the long single position is not bigger, now a small profit of a few hundred points I suggest to reduce a part of the position, light position to take a single, short-term first look at the rebound test daily line MA5, MA10 moving average pressure 105500-106500 area, and 106500 by the previous support, now become the key pressure of the rebound. The daily line has been falling for four consecutive days to close in the negative, so I think that if you want to carry out another wave of secondary decline, you need to rebound to confirm the pressure before falling, which is the position of the top-bottom conversion of 106500. In terms of the general direction, 111900 must be the top of the stage, mainly bearish in the medium and long term, and at least fall back to the 98000-95000 area in the follow-up. But don't chase the short for the time being, wait for the rebound or wait for the monthly line to close before planning again. Now the low test is short, and it is also recommended to test the light position, with a good stop loss