The price of Bitcoin (BTC) has begun to stabilize after experiencing a rapid pullback recently, with the current trading price around $114,430. In the short term, the market shows a clear trend of recovery, gradually fluctuating upward.

From a technical perspective, the 4-hour candlestick chart shows an initial stop-loss pattern. If trading volume can continue to increase in the future, there is a possibility of challenging the resistance level around $115,800 again. However, although the medium to long-term structure still maintains an upward trend, investors should be wary of the pressure brought by multiple moving averages above.

Multi-period K-line analysis shows that the 15-minute chart is in a bottom stabilization state, with short-term momentum being repaired. The 1-hour chart shows a continuation of the rebound, with the trend strengthening but approaching the MA99 resistance level. The 4-hour chart has stabilized after a bottoming out and needs further confirmation of the trend. The daily chart reflects a transitional form in short-term repair, while the weekly chart is still operating within a bullish channel.

In terms of technical indicators, the MACD indicator shows positive signals across multiple time frames, and the RSI indicator is generally rising, indicating that market momentum is recovering. In the moving average system, the short-term moving average has formed a golden cross, but the daily MA system has not yet fully restored a bullish structure. In terms of trading volume, the short-term shows a moderate increase, and the daily volume is returning, with no obvious signs of major capital outflow observed.

On a macro level, there have been multiple positive news items recently supporting market sentiment. MicroStrategy has increased its holdings by 2,200 BTC, further consolidating its Bitcoin reserves. On-chain data shows that the number of active BTC addresses has reached a three-month high, reflecting a significant increase in short-term investor activity. In addition, CME Bitcoin futures open interest has risen for five consecutive days, indicating that institutional investor sentiment is gradually warming.

Overall, the Bitcoin market is currently in a short-term correction phase, with several indicators showing positive signals. However, investors should still closely monitor the resistance levels above and potential adjustment risks. When making investment decisions, it is advisable to consider technical, fundamental, and macro factors comprehensively to cope with potential market volatility.