Recently, the Bitcoin market has shown a volatile adjustment trend. From the 1-hour Candlestick Chart analysis, the BTC price has gradually retreated from the upper band of the Bollinger Bands to near the middle band, and is currently still in a short-term downward channel. However, it is worth noting that a significant support is forming in the middle band area of the Bollinger Bands, and the price has not yet shown an effective breakout.

In terms of technical indicators, the KDJ indicator shows signs of a turn in the low region, suggesting that the short-term downward momentum is weakening. At the same time, although the MACD indicator's dual lines still maintain a downward trend, the bearish strength has begun to gradually weaken, indicating that the subsequent pullback space may be limited.

In summary, although the price of Bitcoin may still experience fluctuations in the short term, the support below is gradually strengthening. For investors, it is advisable to closely monitor market trends and seek appropriate opportunities to establish long positions after the correction ends. However, given the uncertainty in the market, investors should still operate cautiously and manage risks effectively.

With the continuous development of the cryptocurrency market, Bitcoin, as the leader, will continue to influence the entire industry. Investors should pay attention to factors such as the macroeconomic situation, changes in regulatory policies, and the attitudes of institutional investors, as these can significantly impact Bitcoin prices. In the current market environment, maintaining rationality and patience is particularly important.