The Bitcoin market has recently entered a consolidation phase, with prices failing to break through the key resistance level of $11,200. Although a clear new trend direction has not yet emerged, there is still a possibility of a pump based on the overall situation.

From a short-term perspective, as long as the Bitcoin price can hold the support range of 11000-10900 USD, the market is still expected to form a head and shoulders bottom pattern. Currently, we may be in the potential right shoulder phase, but this pattern has not yet been confirmed. To validate this technical pattern, Bitcoin needs to break through the resistance level of 11360 USD. Once this position is broken, the next important target price will be 11740 USD.

However, investors also need to be cautious of downside risks. If Bitcoin falls below the support range of $11,000-$10,900, then the next key support level will be $10,700. This price level is crucial for maintaining the current market structure.

Overall, although the Bitcoin market is currently at a critical crossroads, as long as it can stay above the current support range, bulls still have a chance. Investors should closely monitor price movements, especially the breakouts or breakdowns of key resistance levels and support levels, in order to adjust investment strategies in a timely manner. In any case, a comprehensive market analysis and risk assessment should be conducted before making any investment decisions.