In the early hours of yesterday, BTC followed a massive buying pressure after a Long Wick Candle in the 115700 range, bouncing back from the bottom. It has now returned to the resistance line of the downward channel. After a short-term breakthrough failed, it has entered a period of stagnation and sideways movement. Currently, the hourly outlook shows that the highs are continuously dropping, and the market has not followed the three major indexes to break out. Sideways movement continues to appear. This week, macro events are frequent, and as FOMO sentiment fades, funds are seeking refuge. BTC has not significantly dropped, with a strong support in market at 118000 preventing the market from undergoing deep adjustments. The hourly price is now near the resistance level, and if this position is not broken, there may be an opportunity for a continued downward movement and a retest.