Bitcoin is currently in the rebound phase of a downtrend, facing resistance around $114,600 in the short term. Market participants should closely follow several key price levels: the support level is between $112,200 and $112,500, and if it falls below this range, the next support level may be around $111,500. The resistance levels above are at $114,600 and $117,000.

Investors may consider the following strategies: look for buying opportunities in the $113,800 to $114,200 range, with a target price set at $115,500 to $116,500, and a stop-loss set below $112,500. If the price can break through the $117,000 mark, it may further rise to the $119,500 to $120,000 range.

It is worth noting that the cryptocurrency market is highly volatile, and investors should operate cautiously and manage risks appropriately. At the same time, attention should also be paid to the potential impact of macroeconomic conditions and regulatory policy changes on Bitcoin prices. When making investment decisions, it is recommended to combine various technical indicators and fundamental analysis to gain a more comprehensive market insight.