From a 1-hour perspective, Bitcoin's candlestick precisely retraces the MA120 long-term moving average, followed by a bottoming out and rebound. In the short term, we should focus on whether it can return to the 110000 mark or whether it can hold the support level of 107000 after a second retracement in the past two days. As long as it does not refresh the previous low, it is expected to continue to challenge the 112000 pressure level of BTC Bitcoin in the future