The 4-hour chart of Bitcoin (BTC) shows a significant short-term downward trend. In the latest trading session, a strong bearish candlestick chart stands out, with its fall covering the entire fluctuation range of the previous three candlesticks. This bearish candle not only broke through the middle line of the Bollinger Bands but also directly touched the lower band position, subsequently entering a consolidation phase.

Volume analysis shows that trading activity has significantly increased during the fall, indicating that sellers are in control while buyers are almost powerless to resist. Even a slight rebound is quickly suppressed by selling pressure.

Given the current market dynamics, short positions in the range of $116,000 to $116,500 may still have room to fall, with the next potential support level around $113,500. This trend reflects the current market's cautious attitude towards Bitcoin, which may be influenced by various factors, including the macroeconomic environment, regulatory uncertainty, or position adjustments by large institutional investors.

Although the market is under downward pressure in the short term, investors should remain vigilant and closely monitor market trends and potential reversal signals. At the same time, it is important to note the high volatility characteristics of the cryptocurrency market, where price movements can change rapidly. Before making any investment decisions, it is recommended to conduct a comprehensive market analysis and consider personal risk tolerance.