Bitcoin continued its bearish trend yesterday, experiencing a sustained decline until it barely stopped at 112,000. A slight rebound has just occurred, but the overall trend will not reverse due to a temporary rebound; it is merely a technical rebound. In the future, we will continue to hold a bearish view, but we must also be cautious of a rebound that could trigger stop-loss orders. Bitcoin can be considered bearish starting from 113,700 to 114,300, with a target of 112,000-110,000.