This Friday, the Crypto Assets market continues to maintain a typical oscillating consolidation pattern. The price of Bitcoin (BTC) shows obvious range trading characteristics on the 4-hour Candlestick Chart, reflecting the intense struggle between current market participants.

Yesterday, the BTC price briefly rose to around $113,430, reaching the upper Bollinger Band. However, this upward momentum quickly encountered strong technical resistance, and the buying momentum from the bulls rapidly weakened. Subsequently, the price began to pull back and is currently gradually testing the middle Bollinger Band at around $111,300, with the market testing the validity of this key support level.

It is worth noting that although there were brief signs of a rebound in the market yesterday, the bullish strength continued to weaken during the rebound, failing to create a sustained upward momentum. At the same time, the trading volume was also insufficient, which further confirms the judgment that the current market lacks strong upward momentum.

Comprehensive analysis of technical patterns and trading volume performance indicates that the market still tends to be bearish in the short term. Investors should pay close attention to the support level of the middle band of the Bollinger Bands. If this key support level is broken, it may further open up downside potential.

For short-term trading strategies, consider looking for shorting opportunities in the range of $112,600 to $113,400, with an initial target price set around $111,800 to $111,000. If the price breaks below this range, it may continue to decline. However, if the support holds, be wary of a potential rebound.

In the current complex and ever-changing market environment, investors should remain cautious, closely monitor market changes, and reasonably control risks. At the same time, attention should also be paid to macroeconomic factors and industry news, as these could significantly impact the price of Bitcoin.