At the beginning of this week, Bitcoin prices continued to be weak, bringing Favourable Information to the bears. Currently, the market is at a critical moment in establishing a new trend. The last round of major support held successfully, and the price rebounded at one point. However, when testing the major support again in this round, the risk of breaking down has significantly increased. Once the support is broken, the bearish trend will be confirmed, and the downward space may be completely opened, with the possibility of falling below the 10000 dollar mark.

From a technical perspective, the 3-day Bollinger Bands indicator has completed a full cycle, but the 3-day Bollinger Bands moving average has not been broken. This is an important high-level trend indicator, and the key lies in whether the middle support of the 3-day Bollinger Bands can hold. If this support is broken, the 5-day and weekly Bollinger Bands may also fall.

In terms of small-scale trends, the Bollinger Bands have shown an opening expansion state, indicating that the bearish trend has continuity. Both the MACD and KDJ indicators are showing dead crosses and moving downwards, which also suggests a weak market. Therefore, without clear Favourable Information to support it, Bitcoin is likely to continue its weak trend in the short term.

Currently, investors need to closely monitor the bearish pressure in the range of 115600 to 115900 USD. If the price falls below this range, the next important support level is around 113900 USD. If this support level is also broken, it may further decline to around 112600 USD.

In this market environment, investors should remain vigilant, reasonably control risks, and wait for the market trend to clarify before making investment decisions. At the same time, attention should also be paid to macroeconomic factors and industry dynamics that may affect Bitcoin prices, in order to adjust investment strategies in a timely manner.