Brothers, good morning! Today, Long Ge is going straight to the point, discussing the current support and resistance levels for BTC, and providing some practical advice so everyone can have a clearer idea.

First, let's look at support, which is our 'safety bottom line.' In the short term, we need to focus on $110,600 - $111,000; this is not only the recent low but also coincides with the Fibonacci 23.6% retracement level. If it holds, there may still be some cushion. If it breaks, don't panic, as strong support at $108,500 - $109,000 is waiting, bolstered by the 61.8% Fibonacci retracement level and on-chain realized price, showing strong resistance capability.

Next, let's examine resistance, our 'profit threshold.' The first hurdle at $112,500 - $113,000 is tough to overcome, with the 100-hour moving average and downtrend line blocking the way; if we can break through, $114,000 is the key breakout level, and if it stabilizes there, it is likely to rebound to $115,500.

The technical indicators and trading volume should be analyzed together. In the hourly chart, the price is still in the bearish zone, with weak MACD momentum and RSI below 50, indicating ongoing selling pressure. If it rebounds to $112,500, it is likely to encounter resistance again and may test support. Moreover, the recent rebound volume has shrunk significantly, showing that bulls lack confidence; it is essential to see a volume breakout above $113,000 to consider it a genuine reversal.

We should also mention sentiment and funds. Santiment shows that retail investors are 'extremely bearish,' but this could often be a signal of a temporary bottom; however, whales are making moves, such as a player with a $1.6 billion position converting some BTC to ETH, so it's important to keep an eye on the flow of funds.

Lastly, Long Ge's trading advice, for reference only: consider shorting around the current price of $111,200 - $111,700, with a stop at $112,200 and a target of $110,280 - $109,350. In the current market, don't chase recklessly; focus on key levels and follow the volume, as caution is never a bad thing. #BTC