The Bitcoin market has recently experienced significant fluctuations, causing many investors to feel anxious. Yesterday, Bitcoin failed to hold the 113,000 mark and continued to dip, but ultimately stabilized somewhat. This indicates that the level of market weakness has exceeded most people's expectations.

From a technical perspective, Bitcoin may experience a sharp rebound in the short term. The MACD indicator on the 4-hour chart is expected to form a golden cross, which typically signals a brief upward trend. However, this rebound is likely to be temporary.

For medium to long-term investors, the 116,000 position may become a key resistance level. This level was once an important support, and it is likely to turn into strong resistance now. Therefore, once the price approaches this area, it may attract more selling pressure.

It is worth noting that the overall market is expected to maintain a weak trend in August. The true market bottom may not have appeared yet. In this case, patiently waiting may be a wise choice. When market sentiment reaches extreme panic, there may be rare buying opportunities.

However, investors need to keep in mind that the cryptocurrency market carries high risks and experiences significant fluctuations. Before making any investment decisions, it is essential to conduct thorough research and risk assessment. Whether going long or short, it is necessary to develop a strict risk management strategy.

Overall, the current market is at a critical moment, with the game between short-term rebounds and long-term downward trends playing out. Investors need to remain calm, analyze market trends rationally, seize potential opportunities, and also be prepared for risk prevention.