Last night, Bitcoin experienced a volatile rise and fall, with prices coming under pressure after reaching the key resistance level of 113200, dropping to a low of 111400 in the support zone, which triggered a technical rebound. Currently, it is showing a fluctuating consolidation pattern around 111900. From the recent market performance, the trading pattern shows distinct characteristics of range-bound speculation: during the upward movement, once it touches the resistance threshold, it quickly stagnates and falls back; when descending to the key support area, it triggers a brief rebound. However, the overall pace of rhythm switching is fast, and the trend continuity is weak, with the focus of the long-short game concentrated on the breakthrough and defense of key price levels.

From the technical structural perspective, the current market is dominated by bearish signals. On the daily chart, the price has formed a weak pattern of "three consecutive downs," effectively breaking below the middle band support of the Bollinger Bands. The moving average system shows a bearish arrangement trend, further confirming the bearish pattern in the technical outlook. During the daytime trading hours, although there was a brief spike, the increase failed to sustain effectively, quickly falling back to near the point of initiation, which is a typical "false rebound" movement. Such movements usually indicate that there is still downward space in the future, and the retracement trend is likely to continue. On the four-hour chart, Bitcoin continues to operate in the lower band region of the Bollinger Bands. Although it has repeatedly provided support around 111400 and triggered rebounds, the rebound momentum has always been insufficient, and the price has not broken through the lower band resistance, maintaining an overall bearish dominant fluctuating downward rhythm, with the strength of support defense gradually weakening. The one-hour chart serves as a core reference for short-term operations; currently, the price is testing the pressure of the middle band of the Bollinger Bands and is once again approaching the lower band. The KDJ indicator has shown signs of forming a death cross, and the MACD indicator's bearish momentum bars continue to expand, further strengthening short-term bearish signals. $BTC $ETH #加密市场回调

Bitcoin is short around 112700-113200, looking down to 111000. Ethereum is short around 4185-4210, looking down to 4100.