The Bitcoin (BTC) market showed a significant downtrend on Thursday morning. Analyzing the 4-hour Candlestick Chart, we can observe several large falling Candlesticks, which has caused the BOLL indicator to show a downward trend. Multiple technical indicators have turned toward short positions, indicating that market sentiment is leaning towards pessimism in the short term.

On the hourly chart, the price of Bitcoin is showing a trend of rising and then falling, and no obvious rebound signals have yet appeared. Therefore, under the current market conditions, investors may need to remain cautious and consider operating in accordance with the market trend in the short term.

For day traders, it is important to pay attention to the price movement in the range of $110,900 to $111,300. If the price breaks through this range, the support level may be around $109,000. However, if the price fails to fall below this level, investors should also be alert to a potential reversal.

It is worth noting that the cryptocurrency market is highly volatile, and investors should fully assess risks before making any trading decisions, analyzing them in conjunction with multiple factors. At the same time, continuously monitoring market dynamics and the global macroeconomic situation is also an important basis for formulating investment strategies.