Looking at the 4-hour candlestick chart, the price has formed a consolidation range recently, oscillating roughly between $116,600 and $118,000, with the market lacking clear directional guidance.
Let's take a look at the 1-hour candlestick chart. The price has shown a downward oscillation during the early morning hours, with consecutive bearish candles indicating that the bears are dominating during this period. However, during the price decline, the trading volume has not significantly increased, which may suggest that the sustainability of the bearish momentum is yet to be observed.
In summary, based on the technical analysis of the daily, 4-hour, and 1-hour levels, the current BTC market is in a high-level consolidation phase with a bearish bias in the short term. In terms of action, it is recommended to adopt a short to medium-term approach – primarily to observe and wait for the market to provide a clear direction before taking action. For those with a long-term perspective, they may continue to hold, but should set appropriate stop-loss levels! $BTC