In today's morning trading, the price of Bitcoin experienced a significant fall, breaking through the key support level of $118,000. Subsequently, the downward trend intensified, with a cumulative decline of 3,000 points, clearly indicating that the current market is dominated by bears.

Currently, Bitcoin price is under pressure below $116,500. From a technical indicator perspective, the MACD indicator has formed a death cross and has crossed below the zero line, the RSI indicator remains in the weak zone, and the moving averages are in a bearish arrangement. These signals indicate an overall bearish technical outlook in the short term.

If Bitcoin cannot hold the important psychological level of $115,000, then the next target area may drop to between $114,000 and $112,500. However, the market trends are ever-changing, and investors should closely monitor price movements and changes in trading volume.

Although the technical indicators show bearish signals in the short term, Bitcoin, as the leader of the cryptocurrency market, still has a long-term development outlook that deserves attention. Market participants should rationally analyze and judge by considering various factors such as the macroeconomic environment, changes in regulatory policies, and industry development dynamics.

Regardless of market fluctuations, investors should operate cautiously and manage risks appropriately. It is advisable to conduct thorough research and analysis before making any investment decisions and to develop a trading strategy that suits their needs.