$BTC Technical Analysis of the BTC/USDT Pair (4-Hour Data):

*General Trend:*

Bitcoin is in a sharp downward trend in the short term, with a clear break of support and continued selling.

*Visible Indicators:*

1. *Candles:*

- Consecutive red candles indicate strong selling pressure.

- The last candle shows an attempt to stabilize or a slight rebound from the bottom of 112,020.

2. *Moving Averages:*

- MA5, MA10, MA20 are all above the current price and moving downwards ⇒ Confirmation of the downward trend.

- The further MA20 (in purple) indicates the continuation of negative momentum.

3. *MACD:*

- The MACD line is below the signal line (DEA) and the gap is widening.

- The red bars are increasing in intensity ⇒ Strong bearish momentum.

4. *KDJ:*

- K, D, and J are all very low and indicate a state of overselling ⇒ There may be a temporary rebound soon, but it is uncertain.

*Support and Resistance:*

- *Near Support:* 112,000 – 111,700

- *Resistance:* 113,500 then 114,800

*Conclusion:*

The current trend is clearly downward with strong selling momentum. We may witness a minor technical rebound, but it is not advisable to buy before clear reversal signals appear (such as a break of resistance or a positive crossover in MACD or KDJ).