Recently, the Bitcoin market has shown a dynamic fluctuation trend. The price retreated after breaking through 117,906, but the daily chart indicates that the support below remains strong. The technical indicator MACD shows positive signals, with the fast line expected to form a golden cross pattern, suggesting that long positions are still dominating the market direction.

From the shorter-term four-hour chart, we observe the formation of two consecutive bearish candlesticks. Although the MACD indicator shows a death cross pattern above the water, it is still at a certain distance from the zero axis, which may indicate that the current decline is only a temporary adjustment.

Based on these observations, investors may consider adopting a buy-low strategy during price rebounds. Specifically, attention can be focused on the range of 115,500 to 116,300 as a potential buying opportunity. The upward target can be set between 117,000 and 118,000. If this range is broken, there may be further upward movement; if it fails to break, a reassessment of market direction may be necessary.

It is worth noting that the cryptocurrency market experiences significant fluctuations, and investors should proceed with caution and implement risk management. At the same time, closely monitor market dynamics and macroeconomic factors, as these can have a substantial impact on Bitcoin prices. Before making any investment decisions, it is advisable to conduct thorough research and seek professional advice.