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Bitcoin's price touched a low of 112,600 during the early morning's continued decline, followed by a brief consolidation where both bulls and bears formed a temporary balance. As buying pressure gradually built up, the market has started to rebound and correct, currently stabilizing around the 114,000 level, showing signs of a recovery. The current cautious sentiment in the market is evident, as the previous bullish momentum failed to continue. The day's market first declined then rose, with the oscillation and correction releasing some pressure, leading to a technical rebound, and the rhythm of the bull-bear struggle has quietly shifted. The 4-hour chart is still in a narrow range of oscillation, with prices continuing to fluctuate within the channel. The forces of bulls and bears are in a stalemate, with the oscillation lasting for a long time and no obvious one-sided trend forming yet. The morning's rebound could not maintain its gains, transitioning to a weak adjustment during the day; currently, in the evening session, the downward trend has temporarily eased, entering a state of consolidation. The shorter time frame still follows an oscillating pattern, with the range of fluctuations gradually narrowing, yet both bulls and bears have provided certain opportunities. On the daily chart, there is a tendency to close with a bearish candle again; in the short term, the focus should be on the continuation of the bearish trend before considering going long.