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In the late afternoon, BTC fluctuated narrowly in the range of 114000-116000, with long and short forces in a stalemate. From the perspective of technical indicators, the Bollinger Bands on the hourly chart are all moving downwards simultaneously, indicating a short-term trend that leans towards adjustment, with long positions not yet recovering. However, the narrowing of the Bollinger Bands suggests that the oscillation pattern may soon break out. In terms of operation, one can go long near 114200, targeting a price level of 116200-117200.
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From the technical pattern of the four-hour chart, the dominance of short positions remains evident after BTC surged and then pulled back. The price is pressured by the middle band of the Bollinger Bands during the rebound, and a long bearish line appears accompanied by higher trade volumes, indicating insufficient strength for a bullish counterattack.

Currently, it is important to focus on the breakthrough situation of the middle band of the Bollinger Bands. If the price continues to be suppressed by the middle band, it is highly likely to test the support level of 117000 downwards. Once th
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