In the 4-hour level for BTC, bullish momentum remains weak, while bearish momentum is being moderately released, and the bearish pressure on the bulls continues.

The current liquidity in the futures market is relatively limited. As long as the spot market can maintain the current slight bottom-fishing demand, the subsequent market is likely to stabilize.

However, the weekly downtrend has not changed, and it can still be viewed as a pullback. The night rebound to the 111k-111.5k line is a short position, with targets at 110k and 108.5k.