Analysis at 8:24 AM

The pancake can revolve around 114500, 114000.
The target can be seen around 115600-116200.
Two cakes revolve around 4710, 4650.
The target can be seen around 4800-4880.

In retrospect, throughout the day, Bitcoin exhibited a fluctuating downward trend. Dian Wei returned to 116100, with the lowest touching the 114500 line before entering a consolidation phase, and the short-term volatility range has narrowed.

From the hourly Bollinger Bands perspective, the current channel continues to flatten, and there is no significant expansion between the three bands, indicating that short-term volatility is tending towards equilibrium. Dian Wei is moving between the middle band and the lower band, and has not effectively broken through the resistance of the middle band. Although short-term sentiment is slightly dominant, the lower band has formed short-term support.
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