The Bitcoin market has recently shown a clear fluctuation trend. From the daily chart, the Bitcoin price has broken below the previous low of $111,684, indicating a strengthening downward trend. In terms of technical indicators, the MACD fast and slow lines have crossed below the zero line, further confirming the current downward momentum.

From a longer-term weekly perspective, a death cross pattern has appeared at high levels, which is often seen as a potential reversal signal. However, the $110,000 level remains a strong support level, and investors should closely monitor this level.

According to the current MACD special pattern analysis, Bitcoin seems to have entered a new consolidation range. This range fluctuates roughly between $110,500 and $117,200. For experienced traders, this could be an opportunity to go long at the bottom of the range and short at the top.

However, it should be noted that if the price falls below the support level of 110,000 dollars, it may trigger further declines. Conversely, if the price breaks through the resistance level of 117,500 dollars, it may initiate a new round of increases.

Overall, the current market environment requires investors to remain vigilant, closely monitor price trends and key technical levels, and manage risks effectively. Whether going long or short, reasonable stop-loss positions should be set to cope with market uncertainty.