Recently, the Bitcoin market has drawn the attention of investors, with multiple indicators suggesting that this crypto asset may soon enter a correction phase. From a technical analysis perspective, Bitcoin is currently likely at the end of the fifth wave extension. Although it remains within an upward channel, price momentum has clearly weakened, and the enthusiasm of new funds getting on board is insufficient, indicating that long positions may face exhaustion.

On the monthly chart, the price of Bitcoin is approaching the upper resistance zone. If typical top signals occur, such as being engulfed by a bearish candle after a significant rise, or a false breakout followed by a rapid decline, it may indicate the formation of a temporary high. Considering that the current price is near historical resistance levels, investors should be wary of potential reversal risks.

The macro environment is also putting pressure on Bitcoin. After the implementation of the U.S. fiscal expansion policy, it is expected to absorb about $480 billion of market liquidity through a large-scale issuance of government bonds, which is approximately 15% of the current total market value of global Crypto Assets. Against the backdrop of tightening dollar liquidity, the cryptocurrency market may face pressure, especially Bitcoin, which is sensitive to macro factors.

Considering various factors, if there is no significant positive support, Bitcoin may enter a mid-term adjustment starting next week. The preliminary support range could be around 110000-112000 dollars, and if it further declines, close attention should be paid to changes in market sentiment and capital flow.

For long-term investors, it is not advisable to blindly chase high prices at this stage. A wiser strategy is to patiently wait for technical repair signals or signs of capital stabilization to emerge. During market adjustments, investors should remain calm, analyze various indicators rationally, and prepare for potential investment opportunities that may arise in the future.

It is worth noting that the crypto assets market is highly volatile, and investors should fully consider the risks when making decisions, and develop appropriate strategies based on their own risk tolerance and investment goals.