The Bitcoin market has seen a significant rise in recent trading, mainly influenced by the statements of Federal Reserve Chairman Powell. On the daily chart, Bitcoin's price shows a strong upward momentum, with a single-day increase of over 5000 points. This trend effectively reverses the previous downward trend, highlighting the important impact of macroeconomic news on the encryption currency market.

From a technical analysis perspective, the current key resistance level is around $116,700. If the price can break through and stabilize above this level, the next target may be $118,200. On the other hand, the main support level is around $114,600, and if the price falls back, investors need to closely monitor whether this level can effectively provide support.

For trading strategies, investors may consider short-term trades around $116,700, with a target price of $114,600. However, if the price breaks above $116,700, it may be necessary to wait until the price approaches $118,200 before considering short positions. Additionally, if the price pulls back to $114,700 but does not fall below this level, investors may need to change their strategy and consider buying at a lower price after confirming the end of the pullback.

It is worth noting that the cryptocurrency market is highly volatile, and investors should thoroughly assess risks before making any trading decisions, developing appropriate strategies based on their personal risk tolerance and investment objectives. At the same time, it is also very necessary to continuously pay attention to market dynamics and changes in the regulatory environment.