The market is moving as expected according to the Rayleigh approach. In previous articles, Rayleigh mentioned that 116000 is a support level. Since it hasn't broken down, we can look for a rebound. Currently, the highest point has reached around 118500, providing more than 2000 points of space. However, it has not reached the 120000 level and has started to pull back again to around 115700, beginning to rebound. However, the high points of the rebound are getting lower, indicating that our rebound strength is relatively weak. The mid-track of the Bollinger Bands on the four-hour chart has not been breached and has been suppressed by more than 2000 points. Overall, it is not as fierce as the previous two days. Combined with the six-hour view, the KDJ is opening downwards. Currently, we are mainly shorting during the rebound and paying attention to the 115700 level. If it breaks down, the market will continue to extend downwards, possibly returning to the previous starting point, which is around the 112000-112500 range. $BTC #BTC再创新高