Recently, the price of Bitcoin has experienced a significant pullback. Following a previous record high, the price of Bitcoin has continued to fall, reaching a low of $114,366 today. From the daily chart, this is undoubtedly a clear downtrend. Analysis shows that around $112,000 could be an important support level.

From the analysis of the 4-hour chart, although Bitcoin seems to have temporarily stabilized its falling momentum, the overall trend still leans towards the downside. Currently, market participants should closely monitor the key level of $113,800. If the price falls below this level, it could likely further probe towards the vicinity of $112,000.

For day traders, it is advisable to be cautious when the price rebounds to around $115,700, as this may be a short-term resistance level. At the same time, closely monitor the movement within the range of $113,800 to $112,000, as this could determine the direction of Bitcoin's price in the short term.

It is worth noting that the cryptocurrency market has always been highly volatile. Investors should fully consider risk factors when making decisions and align them with their own investment strategies and risk tolerance. In addition to technical analysis, attention should also be paid to macroeconomic conditions, regulatory policies, and other factors that may affect Bitcoin prices.