Let's review the recent trend of Bitcoin. On Monday, I mentioned that if Bitcoin approaches 920 and then pushes up to 940 to create a false breakout, it would signal a shorting opportunity. Now the results are in — this short position has already been successfully closed for profit, with the target of 904 perfectly reached.

So, is it time to go long around the 904 area? The answer is to hold for now. I don't recommend rushing into a position at this level because there are no signs of a trend reversal yet. Overall, the market is still in a downward trend, and market sentiment remains weak.

Looking at the gap situation, although the CME gap has been filled, the problem is that there was no rebound after the fill, which indicates that the downward momentum is still present. In this context, taking a long position is too risky.

If I were to look for the next bullish opportunity, I would focus on the second gap area — between 888 and 882. This could become a more reliable signal for a long entry. Be patient and don't be fooled by small rebounds in the market.