The Bitcoin (BTC) market has recently shown a volatile trend, attracting close attention from investors. From a technical perspective, the 5-day moving average needs to hold above $118,295. It is worth noting that the MACD indicator at the 32-day level is in a high-open state, which may indicate that there is still downward pressure in the short term. Investors should closely monitor the rebound strength when the daily chart MACD indicator returns to the zero axis to assess the market direction.

Currently, the 30-minute chart shows BTC is searching for a bottom, while the 15-minute chart indicates signs of a Rebound. Day traders need to pay attention to the following key price levels: support levels below are at $117,800, $116,400, and $116,000; resistance levels above are set at $119,086, $119,800, $120,200, and $120,998.

The market sentiment indicator shows that the BTC long-short ratio is 1.27, and the overall long-short ratio is close to equilibrium at 49:51. The long-short ratio of actual trading amounts is also quite close at 51:49. The current market fear index is at 60, indicating that investor sentiment is in a cautious and slightly pessimistic state.

In the face of the current complex market environment, investors should remain rational and strictly adhere to trading discipline. It is advisable to stay on the sidelines until favorable patterns are clearly observed, while also remembering to set stop-loss orders when opening positions to control risks. The market is constantly changing, and maintaining vigilance and flexibility is crucial.

Finally, please note that the above analysis is for reference only and does not constitute any investment advice. The cryptocurrency market carries high risks, and investment decisions should be made with caution.