The current price of $BTC is around 113565, and there has been an overall downward trend in recent days, dropping from 122000 to a low of 112500. It can be seen that the K-line is moving below the short-term moving average, indicating that the market is still weak in the short term. The MACD is also below the zero line, and the green bars have not completely shortened, indicating that the bearish strength still exists, but the speed of decline has begun to slow down.

From the 4H chart, 112500 is a strong support level in the near term, and it rebounded slightly here yesterday; the first resistance level above is at 114500 – 115000, and above that is around 116200. As long as the price cannot stay above 116200, the bulls are not considered strong.

1. Short-term strategy:

If the price pulls back to the 112800 – 113000 range, consider taking a small position to go long, with a stop loss below 112200 and a target first looking at 114500.

If it rebounds to 115000 – 115500 but cannot break through with volume, consider taking a small position to go short, with a stop loss above 116200, targeting back to 113500 – 113000.

2. Conservative strategy:

Wait for confirmation of a breakout above 116200 and establish a long position, targeting 118000 – 120000.

If it breaks below 112500, it indicates that further bottoming may occur, potentially looking at the 110000 – 111000 range.

Currently, the short-term is a weak rebound, and it is not suitable to blindly chase longs; it is recommended to primarily operate within a range of buying at support and selling at resistance, keeping positions light to avoid being washed back and forth.