Today during trading hours, Bitcoin encountered resistance and retreated after climbing to the 110500 line, currently dipping to around 109516 where it found support. Ethereum also showed a narrow range of fluctuations, peaking at 4463 before being blocked and falling back. The overall market trend currently aligns closely with our expected analysis, displaying typical characteristics of consolidation. From the current Bitcoin market data analysis, the price is undergoing a technical correction, repeatedly oscillating near the key resistance level. After reaching a historical high, Bitcoin faced significant selling pressure, with a large number of profitable positions choosing to cash out at high levels, leading to price pressure and a retreat. The daily chart level has consecutively recorded three Bearish lines, continuously weakening. In the 4-hour level, Bitcoin also shows a weak downward trend. Until there is any rebound momentum provided by the short-term long positions, we maintain a bearish outlook.