The current Bitcoin market presents a complex trend. The price faces multiple resistance levels at 114698, 115490, and 116416, while there are support levels at 113465, 113297, and 112824 below. Among these, 112824 is a critical position; if it falls below this level, caution is advised.



From a technical perspective, Bitcoin is rebounding from the zero axis on the 36-hour chart, but it also shows a top divergence pattern, indicating that the rebound strength may be limited. The daily chart shows the price below the zero axis, with the overall market sentiment leaning towards bearish, which further increases the downward pressure.

However, there are still some positive factors in the short term. The 2-hour chart shows a bottoming pattern, and if it does not break on a pullback, there may be room for an upward movement. In addition, the market seems to have a demand to return to the 2-day line zero axis, which may drive prices up in the near future.

Overall, although the long-term trend is bearish, there is still a possibility of a rebound in the short term. Investors should closely monitor key support levels and resistance levels, while being vigilant about changes in market sentiment. When making trading decisions, it is necessary to consider technical indicators across multiple time frames and conduct a comprehensive analysis in conjunction with macroeconomic factors.
BTC-0.98%
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