$BTC Evening Commentary: Chart Analysis: Bitcoin is forming a rounded bottom and cup-and-handle pattern on the hourly chart. This cup-and-handle pattern, taken alone, is a bearish flag pattern. If the rebound fails to break through the cup-and-handle pattern, it will test the 112095 support level. If 112095 holds, it will continue to fall to test the 111181 support level. Hopefully, from now until the interest rate cut announcement, it will remain within the cup-and-handle pattern, oscillating within a range. It would be difficult to recover if it drops sharply before the announcement. The only way to reverse the current situation is to break through the two spikes indicated by the white arrows above, corresponding to a price around 116086. Only a break above this level can continue the upward trend. To stop the gradual decline, it needs to break through 113250 and move above 113250. 🍆 For long positions, wait for Bitcoin to make a false dip below 112281 and then recover before going long. If it drops directly and doesn't recover, don't go long. Use small positions on the left side. Buying on the right side after a breakout above 113530 will increase the certainty of the move. Pay close attention to volume changes and use stop-loss orders. If Bitcoin breaks and holds above 113580 on the hourly chart, the upside target is 114363-115589. A sustained hold above 113580 is necessary for further upward movement. If Bitcoin breaks below 112197 on the 4-hour chart, the downside target is 111166-109535. A break below 111166 without a recovery will likely lead to further declines. 🍆 Continuing with the chart: A 4-hour M-top has formed on Bitcoin. During yesterday's live stream, some viewers mentioned the M-top formation on the 4-hour chart, but I hadn't noticed it until it materialized. To prevent the 4-hour M-top from developing further, a bullish candlestick closing above 113503 is necessary to stop its spread. 113503 is the neckline of a 4-hour M-pattern. A break above this level would invalidate the 4-hour M-pattern. Once the 4-hour M-pattern develops, no one can predict how low it could fall. Meeting adjourned. $BTC #CryptoMarket Correction {future}(BTCUSDT)