Today's Bitcoin market shows a fluctuating trend of first suppressing then rising and finally turning to a fall. It started the morning by dipping from $112,200 to find support at around $111,050. Although it rebounded to a high of $113,200 in the afternoon, it quickly fell back in the evening due to the positive opening of U.S. stocks and unfavourable information, losing the key support level of $112,000. Ethereum also fell from $4,355 to around $4,275, with overall market sentiment clearly weakening.

From a technical perspective, the current trend shows significant bearish signals. Bitcoin has failed to effectively break through the strong resistance area of 113000-113300, forming a false breakout pattern, indicating that bullish momentum is weakening. Major technical indicators show that RSI has a demand for overbought correction, and the continuous shrinkage of trading volume has created a divergence between volume and price. Additionally, Ethereum funds are in a net outflow state, all pointing to a lack of new capital support in the market. After breaking key support, 112000 USD has turned into a recent resistance level.

If the market cannot quickly recover the levels of 112,000 USD (BTC) and 4,315 USD (ETH), the probability of continued correction in the later market is relatively high. Key support levels to focus on below include Bitcoin's intraday low of 111,045 and the support region of 109,270-109,965, while Ethereum needs to hold the key support at 4,255 USD. Although the short-term technicals are biased towards a fall, the medium to long-term trend has not completely deteriorated. It is recommended to take light short positions near resistance levels and set strict stop losses, paying attention to position risk control. #Gate广场创作点亮中秋#