Today, the Bitcoin market is showing a fluctuating dip trend, with the current price hovering around 113700. From a technical perspective, the 4-hour chart indicates that Bitcoin is still operating within a descending channel. The short-term Candlestick is located below the 5-day moving average, and the MACD indicator shows a death cross accompanied by an increase in Trading Volume, indicating that short positions currently hold an advantage.

Currently, the market focus is on the key support range of 113500 to 113800. If this range fails to hold, the price of Bitcoin may further dip to the level of 112800. The upper resistance is located in the range of 114600 to 115200.

For trading strategies, conservative investors can patiently wait for stability in the 113500 to 113800 range before considering going long, with targets set at 115500 to 116500. On the other hand, risk-tolerant traders may consider short positions at the current price level, setting a stop-loss at 114600, looking down at 113200.

From a technical indicators perspective, the moving average pressure is obvious, the RSI indicator is still at a low level, and a rebound may occur in the short term, but the overall trend has not yet reversed. It is recommended that investors operate flexibly within the current range and avoid excessive positions.

Overall, the current market still shows a pattern of short positions being dominant. Although a technical rebound may occur, unless there is a significant breakout above resistance, the overall trend remains weak. Investors should closely monitor market movements, analyze rationally, and operate cautiously.