Recently, the Bitcoin market has shown a significant downtrend, with multiple technical indicators displaying bearish signals. From the 4-hour cycle chart, a 4 consecutive bearish arrangement has formed, and all moving averages are also showing a short positions divergent trend. Prices continue to be suppressed by short-term moving averages, highlighting the bearish-dominated market characteristics.

However, there are also some details in the market worth noting. The trading volume has dropped to a recent low, which may indicate a weakening of selling pressure momentum. At the same time, the price is approaching the lower band of the Bollinger Bands, and the RSI technical indicator has entered the oversold zone. These factors may trigger a short-term technical correction, or even a slight rebound.

However, investors need to view this potential rebound with caution. If the rebound fails to break through the key resistance level (such as the 5-day moving average on the 4-hour chart), then the overall downward trend is likely to continue.

For trading strategies, consider looking for short positions around 115200. The support level below can be focused on the line of 114500. If this position is breached, then the range from 114200 to 113200 will become the next important target area.

Overall, although there may be a technical rebound in the short term, the market as a whole remains in a downward trend before breaking through key resistance. Investors need to take these factors into account when formulating trading strategies and always pay attention to market changes.