The price of Bitcoin has recently successfully broken through the key level of $114,000, marking the end of the pullback period that began at $118,000. According to market analysis, the upcoming trend is likely to enter a phase of converging consolidation.

There are two main possibilities for the future market direction:

1. Restore the bullish trend: If the price can continue to rise and break through $118,000, the probability of this happening is about 40%.

2. Maintain the oscillating market: Prices fluctuate between $118,000 and $108,600. The probability of this situation occurring in the next week is about 60%, but this probability will gradually decrease over time.

Based on this market prediction, investors can consider the following strategies:

1. For the hedged short position established at the $116,000 level, the stop-loss point can be set at $118,000. This way, even if the stop-loss is triggered, the loss will be relatively limited.

2. It is not recommended to actively go long in the oscillation range below $118,000. Although short-term operations may bring some profits, there remains a significant uncertainty in predicting the ultimate breakout direction.

3. Be patient and wait for clearer market signals. In a choppy market, overtrading can increase risks, so cautiously observing is also a wise choice.

Overall, the current Bitcoin market is at a critical turning point. Investors should closely monitor price movements, especially the key level of $118,000, which may determine whether the market continues to rise or remains in a pullback. At the same time, it is important to manage risks and not take overly aggressive bets in a single direction.