Bitcoin has recently continued to decline, with a low point around 111,000 during the afternoon session. Previously, we observed resistance around 118,000, and in the long term, we even look towards the 107,000 level. Now that it has dropped by 7,000 points, to be honest, this wave of long positions has perfectly reached the end of this wave of resistance.

On the four-hour level, I observe signs of a bottom forming in the market. The chart below shows a double bottom support, and there will likely be a certain rebound trend in the short term. Additionally, the indicators in the attached chart show that the bearish momentum is starting to decrease, indicating a potential reversal signal. Therefore, I am preparing to start trading the rebound. Please be flexible in your trading; don't be too rigid. There are many examples of people losing more than they gain just to achieve a target of a few dozen points.

In the evening, we can look to buy in batches around the 112,200-111,600 area, with a target towards the 114,000 position, and if it breaks through, we look towards around 116,000.

Follow the public account, "What can relieve worries? Only Jiang Wei."

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