Bitcoin has shown weakness recently, but it is not advisable to be overly pessimistic at this time. The market still has room for a pump, and the key is whether the support level at $115,200 can be maintained. To determine if the market can continue to rise, $119,400 is an important threshold that needs to be regained.

From a technical perspective, the range between $112,000 and $110,500 is a strong support level for Bitcoin. For investors who have established long positions around $116,800, it may be worth considering the first take profit operation around the current $118,300, while closely monitoring the breakout situation.

Although Bitcoin has performed poorly in the short term, there are still opportunities in the market. Investors should maintain a cautiously optimistic attitude and pay attention to changes in key price levels. At the same time, it is important to be aware of the high volatility in the cryptocurrency market, and effective risk management is crucial.

In the current market environment, investors need to remain calm and avoid emotional decision-making. Closely monitor market trends, especially the key price levels mentioned above, as they may provide valuable references for investment decisions. Additionally, attention should be paid to changes in macroeconomic factors and the regulatory environment, as these may have a significant impact on Bitcoin prices.