The position at 112 can start building a long position to bet on the bottom of the oscillation. If we want to start oscillating, this position is about right;

1: 111 is a neckline position on the daily chart. If it breaks and doesn't recover, it may enter a downtrend instead of oscillating;

2: On the data front for oscillations, the long-short ratio of Bitcoin has finally risen above 1.8, approaching 2. Although the overall positions haven't decreased much, they have declined significantly at the oscillation level. Combined with the price drop, this is enough to support a wave of oscillation;

3: In the lending market, large players have also begun to make initial bottom-fishing moves, and the relatively high premium on exchange B has been maintained for a while;

Therefore, based on the above data, unless a major downtrend forms, Bitcoin is already close to the bottom of the oscillation range;