Recently, the Bitcoin market has experienced a rebound, mainly influenced by Powell's dovish remarks. This rebound has pushed the Bitcoin price above the resistance level around 117,000. However, from the daily chart, Bitcoin has not yet escaped the overall downtrend, and the current rise may only be a technical rebound during the process of falling.

Currently, Bitcoin is testing the previous neckline resistance level around 117,000. The 4-hour chart shows that the price is being suppressed here and has experienced a rebound. If it cannot break through this key resistance, the support range below is expected to be between 107,000 and 109,000.

In the short term, we need to closely monitor several key price levels. 116,000 is an important support level below, while 117,000 is a strengthened resistance level above. If these levels are broken, the next target price may appear around 112,000, or even further down to about 108,000.

Investors should closely monitor changes in these key price levels while also considering broader market factors and macroeconomic conditions, all of which may have a significant impact on Bitcoin prices. Before making any investment decisions, it is advisable to conduct a comprehensive market analysis and risk assessment.