The upward momentum of $BTC has been interrupted, and the previous trend line could not be maintained. The price level of 118000 was the most densely traded, with the fiercest battles between both sides, but it has now been broken. Since it cannot hold here, it indicates that the market needs to go down to find new support points, digest the panic selling, and accumulate chips and consensus before there is a chance to restart later. The truly significant support point right now is around 112000, which is not only a neckline position but also overlaps with the 12-hour Vegas tunnel. If the price tests down to here, the daily cloud chart will likely also reach the bottom area, and the market often attempts a counterattack in such places. As for whether it will be a short-term rebound or lead to a new wave of upward movement, it still needs to be judged based on the market conditions at that time.