Recently, the Bitcoin market has shown a mixed situation of bulls and bears. Although the news is a mix of good and bad, the technical indicators are showing positive signals. From the Candlestick Chart, we can observe the formation of the Evening Star and the golden cross, which are often seen as potential signs of a rise.

Market sentiment is currently in an extreme state, which often precedes significant turning points. From the 4-hour timeframe, the Bitcoin price has risen above both the short-term and long-term moving averages, with momentum continuing to strengthen, indicating that bullish forces are accumulating and are expected to be released in the future.

Although there may be slight pullbacks in the short term, the overall trend remains positive. Investors can consider looking for buying opportunities during pullbacks to establish long positions. Currently, attention can be paid to the two price levels of 111700 and 112500 as potential entry points, with target price levels set at 114100 and 114700.

It is worth noting that the recent expectations for the Federal Reserve to cut interest rates have increased, which could have a positive impact on the cryptocurrency market, including Bitcoin. However, investors should still operate cautiously, closely monitor market changes, and manage risks appropriately.