The short-term trend of Bitcoin shows certain characteristics of volatility. From the hourly Candlestick Chart, after a rapid fall in the early hours, the coin price has begun to show a certain degree of pullback. Currently, the Candlestick Chart shows consecutive green Candlesticks, indicating that the upward momentum in the morning has temporarily faded.

From a technical analysis perspective, the price of Bitcoin is currently hovering around the middle band of the Bollinger Bands, without breaking through previous highs. This state may indicate that the market is building momentum. Based on the current market performance, we can speculate that Bitcoin may first experience a pullback before attempting to break upwards again.

For investors interested in participating in trading, they can pay attention to the range of $116,600 to $117,100 as a potential buying opportunity. If the market trends align with expectations, the Bitcoin price is expected to challenge the resistance level around $118,500 again.

However, it is important to emphasize that the cryptocurrency market is highly volatile and carries significant risks. Investors must conduct thorough research and risk assessment before making any trading decisions. At the same time, it is recommended that investors closely monitor market dynamics and adjust their strategies in a timely manner to respond to potential sudden market movements.