Bitcoin's intraday momentum is insufficient, the upward price strength is weakening, and the market has fallen into high-level consolidation after a pullback. The price rebounded after retracing to around 116,870, but faced resistance and pressure when approaching around 118,200. Currently, it is fluctuating around 117,500, with both bulls and bears in a state of stalemate.

Overall, although there was a slight upward movement relying on the high opening, no significant breakthrough has been formed, and the oscillating trend is expected to continue for a while. $BTC