The market is still weak, all rebounds are false, don’t try to catch the bottom. Short-term can be managed slightly, but in the long term, it needs to be bearish.

1) Still feel that 124545 is the mid-term top.

2) Today's resistance level is at 116900; only if the price exceeds this number can there be a rebound, otherwise, the 4-hour downtrend will continue.

3) The previous highs of 110500-112000 are key support; if it holds, a rebound is possible. If it breaks down, the decline will be larger, and Bitcoin may drop below 100,000.