[Evening BTC Market Analysis]

4-hour level: The overall structure is weak, with prices continuously suppressed by the middle band of the Bollinger Bands. The upper and lower bands are narrowing, indicating that the market is in a consolidation phase. The key resistance range of 112500-113000 has been attacked multiple times without success, with evident selling pressure, and the downward trend has not been reversed. If it cannot effectively stabilize at the middle band, it is highly likely that the market will seek support at the lower band in the future.

1-hour level: Bullish momentum is insufficient, and the rebound is once again under pressure at the middle track of the Bollinger Bands. The MACD green bars are expanding, and the DIF and DEA have formed a death cross, indicating a weakening short-term trend. The volume performance is poor, with increased volume on the decline and decreased volume on the rebound, which is a typical weak rebound structure. If it cannot regain above 111500 within an hour, the risk of further decline will significantly increase.

🔥Operation Suggestion:

BTC rebounded to the range of 111800-112500, and short positions can be gradually built up, targeting 110000-110900;
If it breaks below the key support at 110000, it can further look towards around 107200.