Bitcoin encountered resistance after rebounding to the 116,000 resistance level, and it also pulled back from the mid-term trend line.

Moreover, compared to the previous decline in trading volume, the rebound trading volume in the past two days has been relatively low, indicating that buying pressure remains weak.

Currently, the probability of Scenario 1 occurring is quite high, which means that the A wave of Bitcoin's adjustment wave has not yet completed, and it may continue to fluctuate downward, completing the A wave. The short-term target remains the 80-day moving average.