The recent market trend of Bitcoin has attracted attention. Following the continuous fall and a brief rebound earlier, the current situation is once again showing a pullback trend. From the perspective of the daily chart, Bitcoin is still in an overall pattern of fluctuating downward.

The four-hour cycle chart shows that after reaching a historical high of 12.3, Bitcoin began a series of pullbacks and rebounds. It is worth noting that the high points of each rebound are gradually decreasing, from 12.1 to 12.03, and then to 11.98. At the same time, the low points of the pullbacks are also continuously moving down, from 11.57 to 11.47. This simultaneous downward movement of high and low points forms a clear downward channel.

The hourly chart shows that after reaching a support level of 11.73 in the early hours of today, Bitcoin has shown some signs of rebound. Currently, the price fluctuates around 11.79. However, there is still significant pressure from above, and the bullish momentum seems to be somewhat insufficient. In the short term, investors need to closely follow the key resistance range of 11.85 to 11.88.

Given the current market environment, investment strategies may need to be more cautious. Although there are signs of a Rebound, the overall trend still leans towards a fall. In this situation, investors may need to consider adopting short-selling strategies at high levels while closely following market changes and adjusting strategies in a timely manner.

Of course, the cryptocurrency market is ever-changing, and investors should fully assess risks and conduct comprehensive market analysis before making any decisions. How the market trend will develop in the future still requires us to continue observing the changes and impacts of various factors.