The Bitcoin market has recently shown a significant downward trend, with prices reaching the key support level of $115,100. During this process, we observed that short-term selling pressure had concentrated and erupted, but as prices gradually dropped, the bearish momentum has also weakened.

Currently, the price of Bitcoin is approaching an important support area. Based on a comprehensive technical analysis and market sentiment indicators, we believe that the potential for further drop in the short term may be limited. This judgment is based on multiple factors, including price trends, changes in trading volume, and investor sentiment.

It is worth noting that the range of $115,300 to $115,800 may become a potential buying opportunity. If the price can stabilize in this range, the possibility of an upward rebound cannot be ruled out, and there is even hope of challenging the target level of $116,500.

However, investors should remain cautious and closely monitor market trends. The cryptocurrency market is highly volatile, and any sudden events could lead to sharp changes in prices. It is advised that investors fully assess risks before making any decisions, and take into account their own investment goals and risk tolerance.

Overall, although Bitcoin may still face pressure in the short term, the market may show signs of stabilization as prices approach key support levels. Investors should remain vigilant and be ready to respond to any changes in the market.