In the early hours of today, the Bitcoin market showed a clear fluctuation trend. After the US stock market opened, the Bitcoin price fluctuated sharply between $112,500 and $114,000, but the actual point change was not significant.

From the current market trend, Bitcoin has shown a high rebound followed by a pullback in the four-hour structure. The price encountered strong resistance after rebounding to the mid-track, and subsequently declined, forming a bearish candle. This structure indicates a lack of strength in the market rebound, with continuous oscillation and downward movement.

The four-hour chart is about to close, and it is worth noting that the rebound highs of the three-wave pattern are gradually decreasing, indicating that the current market is still dominated by bears. The bears are continuously testing the lower support levels, while the short-term rebound may only be a technical correction.

From a larger time frame perspective, the Bitcoin price shows a five consecutive bearish candlestick pattern with a pullback, and the one-way descending channel continues. Although the bearish momentum has slightly slowed down, the pace remains steady. Investors need to closely monitor whether the previous low point of 112,000 dollars will be broken.

For short-term traders, it may be worth considering shorting opportunities in the range of $113,000 to $113,500, with a target price set around $111,500. At the same time, Ethereum is showing a similar trend, and shorts could be considered near $4,250 to $4,280, targeting $4,150.

Regardless of the trading strategy adopted, investors should operate cautiously, manage risks effectively, and set reasonable stop-loss positions. By closely monitoring market changes and adjusting strategies in a timely manner, one can seize opportunities in this uncertain market.