In the early session, BTC rapidly dipped due to macroeconomic influences, but it still hasn't effectively broken below the 116 position. Instead, it attempted a breakthrough that didn't sustain and quickly rebounded to recover. It's hard to keep up with the volatility; although it seems like some missed the opportunity, riding the rebound wave is still not bad.

Currently, the market shows that after the dip and recovery, BTC is under pressure at 118 and has retreated. All levels of indicators show a clear signal, but we must remain vigilant. We should continue to pay attention to the 116 position; an effective breakout will open up a new round of market activity. If it doesn't break the position, we can look upwards. Treat it within the range.

Around 116200-116700, watch closely near 118000.