Life goes on, and so does the struggle.

As we all know, this week is bearish across the board. The price of Bitcoin has rebounded above 130,000, which has already indicated a bearish outlook. The price has retraced to around 115,678, a drop of nearly 7,500 points, perfectly validating the trend and marking a beautiful victory for this week.

Back to the point, the US spot Bitcoin has seen a net inflow into ETFs for four consecutive trading days, reaching 2.906 billion USD. While Bitcoin is declining, Ethereum is experiencing a compensatory rise, with the two assets moving in opposite directions. Therefore, we will temporarily hold off on Ethereum and discuss the future movements of Bitcoin.

The four-hour K-line is gradually moving downwards, with the current price operating in the middle to lower track area. After dropping to the lower track, it has stopped falling and is undergoing a recovery. If the price wants to continue to decline, it still needs time to convert space. The first target has been reached, and from the market perspective, there is hope for a breakout in a door-shaped pattern.

For today, the reference outlook is bearish around 118,000-118,500, with a short-term target near 116,500 and a long-term target in the range of 114,000-112,000.

Follow the public account, for what can relieve worries, only Jiang Wei.

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