Bitcoin market data interpretation for today

#BTC# Bitcoin dipped to around 112580 yesterday and started to rebound. The first wave of rebound reached around 113900 and began to retrace, with the lowest retrace hitting around 113200 before starting the second wave of rebound. The second wave peaked at around 114100 and retraced again, with the low hitting around 113300. Just now, a large bullish candle pulled up 1000 points, reaching 114300 at 113300. Currently, there is resistance at 114500; as long as it doesn't break above, there is no need to worry too much about a large pullback.

The overall situation of Bitcoin at present is that it is on a large-scale uptrend, but on the medium level, it has broken down and is looking for a correction. If it cannot hold the rebound at 115000 and fails to break through 116000, there will still be a possibility of a significant pullback. As for when and how long it will grind down, that is more difficult to determine. However, as long as Bitcoin cannot hold the rebound at 115000, we can continue to short it. The initial low points to look at are around 112500-112000, and at least in the short term, you can make a profit from a swing trade.