Bitcoin is currently in a range-bound phase, with the market showing a tug-of-war between bulls and bears. Recently, after BTC broke through $113,800, it encountered a resistance level near $114,500. From the current trend, multiple attempts to break through $114,500 have failed, indicating the importance of this price level.

On the technical side, the 4-hour K-line chart shows that the price is hovering near the middle band of the Bollinger Bands, further confirming the current range-bound situation. Therefore, investors should closely monitor the breakthrough of the key price level of 114500 dollars, which may determine the direction of BTC in the short term.

For trading strategies, consider looking for short opportunities in the range of 115300-114500 USD. If the price declines, pay attention to support levels such as 113800, 112500, 111800, and 110800 USD. When the price approaches these support levels, consider whether to counter-trend based on market reactions.

It is worth noting that in the current market environment lacking a clear trend, investors should remain vigilant and manage risks. At the same time, it is also important to closely monitor macroeconomic factors and industry news, as these external factors may have a significant impact on BTC prices.

Overall, BTC is currently at a critical technical position, and investors need to remain patient and wait for clearer market signals to emerge. Whether it breaks through resistance or falls below support, it could trigger a new round of market fluctuations. In this situation, it is particularly important to flexibly adjust strategies and maintain rational judgment.