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Recently, the Bitcoin market has shown significant changes. From the recent four-hour Candlestick Chart, Bitcoin encountered obvious resistance at the upper band of the Bollinger Bands after a continuous rise in three Bullish lines. The longer forces failed to support the price in breaking through this key position, and it has now begun to show a downward trend.
This technical pattern indicates that the recent pump may be near its end, and the overall market trend could potentially shift back to a bear-dominated situation. Based on the current market performance, investors need to maintain a cautious attitude and closely monitor changes in price trends.
For short-term trading strategies, it is recommended that investors consider shorting opportunities in the range of $115,000 to $116,000. If bearish strength continues to dominate, the price may further drop to the support level around $114,000 to $113,000.
It is worth noting that the cryptocurrency market is volatile, and when investors develop trading strategies, they should not only focus on technical indicators but also fully consider the potential impact of macroeconomic environments, regulatory policy changes, and other factors in order to better seize market opportunities and manage risks.