Bitcoin price today: Bitcoin reached a new high yesterday, peaking at 125,877. From a structural perspective, on October 3rd we mentioned that Bitcoin is currently in an ABC structure of an x wave. The C wave is still in progress. Although this wave

The increase in wave C exceeded expectations, but it still belongs to
The scope of wave C has not changed the overall structure. After wave C is completed, there will still be a decline, which is a clear direction in terms of structure.
Let's take another look at the comparison between space and probability. The current price is around 123,000, with the upper trend line resistance near 130,000, which means there is about a 5% upside potential. In contrast, the potential downside has a 20% drop space. If the winning probabilities on both sides are equal, it is clear that betting on the bearish direction has a better risk-to-reward ratio. Therefore, from the perspective of fund management and probability logic, we still firmly choose to gradually position short orders in the current range.