Looking at the BTC 4-hour Candlestick Chart, the price has recently formed a range of fluctuations, with the range oscillating roughly between 116600 and 118000 dollars, and the market lacks clear directional guidance.

Let's take a look at the 1-hour Candlestick Chart. The price shows a fluctuating downward trend during the early hours, with consecutive bearish Candlesticks, indicating that the bearish forces dominate during this period. However, the trading volume did not significantly increase during the price decline, which may suggest that the sustainability of the bearish forces remains to be observed.
Based on the comprehensive technical analysis of the daily, 4-hour, and 1-hour levels, the current BTC market is in a high-level consolidation and a bearish situation in the short term. In terms of operations, it is recommended to take short to medium-term positions and mainly observe, waiting for the market to clarify its direction before taking action. For long-term positions, they can continue to be held, but a stop-loss level must be set!