Bitcoin trend analysis

The short-term chart shows that the market briefly touched 116,380 before retreating under pressure. In the short term, the price is facing downward pressure, having previously fallen over 2,000 points, reaching a low below 113,500. The market is showing a volatile bullish and bearish trend, with significant short-term volatility. Focus on the support level of 111,500. If it fails to break below, the market is expected to rebound and continue its upward trend, potentially testing 116,000 in the short term. On the other hand, if the price subsequently breaks below 111,500, there is a risk of further decline, and traders should be prepared. Given the short-term upward pressure, we recommend focusing on stabilization around 116,000.

Short-Term Trading Strategy
Short around 116,000
Long around 113,000