The recent trend of Bitcoin shows characteristics of a secondary pullback within a long positions trend, which indicates that there may be a period of no rise or consolidation in the short term. However, this situation often corresponds to buying opportunities with a higher safety factor, and investors may consider looking for get on board opportunities after the pullback.

From a medium to long-term perspective, after a significant downward pattern appeared on the 14th, the market has entered a phase of local adjustment. It is worth noting that this pullback is a normal adjustment within a long positions trend, and different levels of buying opportunities may arise accordingly.

The short-term trend shows that after consecutive declines, a rebound has occurred, but the space may be limited. The market may undergo a consolidation around the previous low points, temporarily lacking favorable structures for long positions to counterattack. The upper pressure level is gradually moving down, and it is recommended to wait for further bottoming out before considering getting on board.

Overall, the current market is in the mid-early stage of a secondary pullback within a large-scale long positions structure. There are no obvious signs of a rebound in the small scale, and the adjustment is expected to continue. It is recommended that investors patiently wait and look for new get on board opportunities during further declines.

The short-term resistance range is between 115240 and 116116. If the price first touches this area, consider referring to MA250 on the 30-minute chart for a high sell operation, and then look for low absorption opportunities by paying attention to MA30 on the 1-hour and lower timeframes.

The short-term support zone is between 112310 and 111900. If the price quickly drops to this area, short-term trading can be considered. A lower support zone is between 109080 and 107376, which may provide better buying opportunities.

Overall, although the market may face adjustments in the short term, from a larger cycle perspective, this could be a pullback in an upward trend, providing investors with a better layout opportunity. Investors need to remain patient and wait for the price to further decline before considering getting on board, in order to seize a better risk-reward ratio.