BTC Technical Analysis:

After testing the support near 112K yesterday, a technical rebound occurred, but the rebound peak coincidentally touched the pressure level around 114.8K, which was the low point from the previous day, and then fell back under pressure.

The daily line formed a small bullish candle. From the trading volume perspective, the rebound volume did not exceed the previous day's decline volume, indicating that the willingness of funds to participate has not significantly increased.

Short-term 7-day and 14-day moving averages are turning downwards and forming resistance, while the 30-day and 90-day moving averages are gradually flattening, indicating a weak short-term trend and significant pullback pressure, but the medium to long-term upward trend has not been broken.

The MACD indicator has continued to expand after a death cross, with the negative value of the histogram continuing to grow, reflecting that bearish momentum is still strengthening.

In the short term, pay close attention to the support level at 112K. If it breaks down, then watch for bottoming opportunities in the 105K–108K range.

The 4-hour level is still in a small downtrend of oscillation, with a clear rhythm of phase decline, and each wave of lows gradually moving down.

The morning high was followed by a pullback, and it is about to form a bearish candle with a long upper shadow.

Intraday trading advice: Focus on bearish opportunities in the resistance zone of 114K–115K above, while closely monitoring the support area of 112K–110K below.

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