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In the recent trading days, the Bitcoin market remains turbulent. During the weekend, the market continued its oscillating trend, closing with a bearish candlestick on the daily chart, while short selling volume significantly increased, and the overall market sentiment still leans towards bearish.
From a short-term perspective, although there are some signs of weakening bearish momentum on the 4-hour and 1-hour charts, the moving average systems across various timeframes are showing a synchronized downward trend, indicating that the current market is still in a weak consolidation phase.
Technical analysis shows that Bitcoin may encounter resistance in the range of $112,000 to $112,600. Investors may consider looking for shorting opportunities within this price range. However, market participants should keep in mind that the cryptocurrency market is highly volatile and carries significant risks, so any trading decisions should be made with careful consideration and proper risk management.
Currently, the cryptocurrency market is facing multiple influencing factors, including the global economic situation and changes in the regulatory environment. These factors could have a significant impact on market trends. Investors need to closely monitor market movements and adjust their investment strategies in a timely manner.
Despite the weak performance of the market in the short term, the technological innovations and application scenarios of Bitcoin and other mainstream cryptocurrencies continue to advance in the long run. The fluctuations of the market are a normal phenomenon, and true value investors should pay more attention to the fundamentals of the projects and their long-term development potential.