#Bitcoin Although there are short-term signs of a bottoming out on the 1-hour and 4-hour charts, the overall trend remains weak. Currently, we can only look for a rebound, and we cannot confirm a bottoming signal on the daily chart. Pay attention to the resistance level at 114,700; it was previously support, and now that it has been effectively broken, it becomes a resistance level. Additionally, the 4-hour MA7 has also reached this position. In the short term, until tomorrow morning, this is considered a short-term double resistance level, which will put significant pressure on the price rebound. I believe that going long and bottom-fishing is not very suitable at this time. Personally, I would prefer to wait for a test of the key support before making any decisions. The next support is around 111,300. Furthermore, on the macro front, I am also waiting for Mr. Powell to finish speaking before making any judgments.