In the current cryptocurrency market, the trend of Bitcoin has attracted widespread attention. The latest technical analysis shows that after experiencing a wave of increase, the Bitcoin price has retreated and is currently approaching a key price range: $116,800 to $114,700. The importance of this range cannot be ignored, as it is likely to become a key support or resistance level for future price movements.

Recently, after Bitcoin broke its historical high, market sentiment has undergone a significant change. Previously bearish investors have faced immense pressure, while now, bullish investors are also being tested. For those investors hoping to bottom-feed at the current price level, analysts warn that extra caution is needed, as the market may experience a deeper correction.

From an overall market perspective, mainstream cryptocurrencies like Ethereum are also showing a trend of rotating upward, reflecting investors' tendency to seek opportunities among different projects. However, when the investment frenzy for small cryptocurrencies (commonly known as "altcoins") will arrive remains one of the focal points of market attention.

In this market environment, investors need to remain vigilant and closely monitor price trends and changes in market sentiment. While technical analysis provides important reference information, it should also be combined with fundamental factors and the overall market environment to formulate investment strategies. Whether bullish or bearish, risk management is always the primary consideration in the highly volatile encryption currency market.