The Bitcoin market is currently undergoing a short-term adjustment, with long positions temporarily weakening. However, this technical pullback is actually highly consistent with expectations of a healthy rise in the medium to long term. Analysis indicates that the current consolidation process is likely to accumulate new upward momentum for Bitcoin, laying a solid foundation for future challenges to, or even breakthroughs of, historical highs.

From a specific price perspective, investors should focus on the following key levels: on the downside, the primary support level is around $115,400, followed by the $114,000 area. If downward pressure continues to increase, support below $112,500 will become the market focus. On the upside, around $116,300 is the initial resistance level; if it can be broken, attention should be paid to the resistance near $117,800. In the case of strong long positions, $119,500 will become the next important target.

This market adjustment not only provides investors with the opportunity to reassess and adjust their strategies, but also creates conditions for a strong rebound of Bitcoin in the future. Although short-term volatility may occur, the fundamentals of the Bitcoin market remain strong in the long run. While investors pay attention to these key price levels, they should also continue to monitor the global macroeconomic situation, regulatory policy changes, and the movements of institutional investors, as these factors may have a significant impact on the future trend of Bitcoin.