From a technical analysis of Bitcoin, the current market is significantly dominated by bears. The four-hour chart shows that after a rebound with two bullish candlesticks over the past two days, the price has been suppressed by bears resulting in two bearish candlesticks. The price is clearly constrained by the middle band of the Bollinger Bands. Combined with the unchanged overall downtrend, and the fact that bulls have repeatedly failed to effectively break through key resistance, it indicates a high probability of continuation of the downtrend. In the one-hour chart, the market has broken below the middle band of the Bollinger Bands with three consecutive bearish candlesticks, confirming the initiation of short-term downward momentum, and bear forces are beginning to be unleashed. The target continues to look down to 110500
