This weekend, the price movement of Bitcoin showed slight fluctuations. After the US Non-farm Payrolls (NFP) data was released on Friday, Bitcoin quickly fell from $113,300 to $110,200. On Saturday, the market failed to show a significant rebound and continued to dip after consolidating sideways around the $110,000 level.

Despite the short-term fluctuations being quite chaotic, it is noteworthy that Bitcoin has not effectively fallen below the support level of $110,000. Therefore, we can still consider that Bitcoin is currently in a 4-hour level rebound trend that started from $107,200 on September 1.

From a short-term perspective, Bitcoin has rebounded again after touching 110,000 USD. To confirm the continuation of the upward trend, the key lies in whether it can break through and stay above 111,700 USD. If successful, further recovery towards the range of 112,500-113,300 USD is expected next Monday. The high point on the 4-hour chart is anticipated to occur around the 10th-11th, while the second target range of 116,000-117,500 USD is still expected to be achieved.

However, we must also be vigilant about potential risks. If Bitcoin fails to break through $111,700 and effectively dips below the $110,000 support level, it may indicate that the upward movement at the 4-hour level has ended. In this case, there may not be significant buying opportunities in the market over the next one to two weeks.

Overall, the current Bitcoin market is at a critical position, and investors need to closely monitor the price movement and manage risks appropriately. Regardless of how the market changes, maintaining rational analysis and cautious operations is always a wise choice.