At the beginning of this week, the Bitcoin market showed signs of weakness. On Sunday evening, the price of Bitcoin broke downward, falling below previous lows, raising concerns among market participants.

Although Bitcoin has not yet fallen below the key support level of $110,500, it is currently in a weak oscillation state. From a technical perspective, the daily chart has once again formed a bearish candle, and the overall trading range shows a slow downward trend, which further confirms the current weak pattern.

In this market environment, investors need to closely monitor two key factors: first, whether the support level of $110,500 can hold, and secondly, the potential strength of any rebound that may occur in the future. These two factors will largely determine the short-term trend of Bitcoin.

Given the current market conditions, investors may consider adopting a short strategy in the range of $114,000 to $114,500, with a target price set between $112,000 and $110,000. However, investors should keep in mind that the cryptocurrency market is highly volatile, and proper risk management is essential.

Moreover, it is worth noting that although the market performance has been poor in the short term, Bitcoin, as an emerging asset class, still has a long-term development prospect that deserves attention. Investors should comprehensively consider short-term market trends and long-term development potential when formulating investment strategies to make informed decisions.