$BTC is still in the consolidation phase. It is expected to oscillate between 107,000 and 118,000 in the short term, and many people may try to catch the Rebound during this period. The heat map also confirms this — there is a significant amount of Liquidity accumulated around 118,000, and during the previous pullback, a fuel wall was formed above 123,000, waiting for the price to trigger a new breakout. The overall structure is actually preparing for a new high.

From the trend rhythm, Bitcoin is still moving in the golden range rhythm. I tend to think it will have a breakthrough in 5 weeks. If the 110,000 position can stabilize as a local bottom, there is a chance to touch 118,000 this week; but if it drags on longer, the breakthrough might have to wait until next week.
The situation on the Shanzhai side is quite grim. When BTC is fluctuating, they basically have no chance, and they can't escape during downturns either. However, the good news is that, from the current price level, there isn't much downside space left. Market sentiment is still in a gutter state right now—every time this happens, it often means we're not far from a phase bottom.