The price of Bitcoin continued to show a falling trend this afternoon, reaching a low near $114,500. Subsequently, the market entered a narrow range consolidation phase. Market observers noted that if Bitcoin can hold above the key support level of $115,000 in the evening, it is likely to reopen an upward test.

From a short-term technical perspective, the market is currently in a state of fierce tug-of-war between the bulls and bears. It is noteworthy that the KDJ indicator is about to form a golden cross signal, which is usually seen as a sign that the correction phase is coming to an end. This technical signal provides investors with potential opportunities for rebound positioning.

Based on the current market situation, some analysts suggest paying attention to buying opportunities in the range of $114,500 to $113,800, with potential target levels set at $115,500 to $117,000. However, investors should keep in mind that the cryptocurrency market is highly volatile, and any investment decision needs to be carefully assessed for risks.

Overall, although the price of Bitcoin still faces some pressure in the short term, the improvement in technical indicators seems to suggest that the market may soon迎来 a turning point. Investors should closely monitor the performance of the key price level of $115,000, as it may become an important reference point for judging the future market direction.