Recently, the Bitcoin market has shown a pattern of repeated fluctuations. Starting from the previous low of 111850.0, the price has gradually recovered, currently reaching 113946.9. In the short term, the price is fluctuating narrowly around the moving average on the 1-hour chart, reflecting the intense confrontation between bulls and bears.

On the daily chart, Bitcoin is forming a consolidation pattern. Although the bearish strength has weakened, there is still pressure above. Investors need to closely monitor the key resistance range of 115000 to 116000. At the same time, the support level is concentrated in the range of 113000 to 112500. The four-hour chart shows that bullish strength has increased, but after encountering resistance above, there has been a pullback, presenting an overall consolidation pattern.

For short-term operations, investors may consider shorting lightly when the price rebounds to the range of 114200-114500, setting the target price between 113500-113200, while placing the stop-loss at 114700.

The current cryptocurrency market is undergoing an adjustment, with various coins showing different trends. It is noteworthy that Solana futures trading volume has reached a new high, indicating that the activity level in some altcoin markets is on the rise. In addition, Hong Kong has recently released new regulations for stablecoins, which could have a profound impact on the entire cryptocurrency ecosystem.

In this uncertain market environment, investors need to remain vigilant, closely monitor market trends and regulatory policy changes, and manage risks effectively. Whether holding long-term or trading short-term, one should formulate appropriate strategies based on their own risk tolerance and investment goals.