Latest data shows that the Bitcoin market experienced a significant price movement in the early hours of today. The price broke through the previous consolidation range, exhibiting a strong upward momentum, attracting widespread attention from the market.

Looking back at the recent market trends, Bitcoin experienced a crucial turning point after touching a low near 111,800. Below this price level, a double-bottom technical pattern has gradually formed. This pattern is regarded as an important reversal signal in technical analysis, typically consisting of two candlesticks spaced apart by a certain period of time, each with long lower shadows, and the lower shadow positions are very close to each other. This structure often indicates that the bearish forces are exhausted, and the market bottom may have already been established, laying the foundation for subsequent reversal trends.

As the double-bottom pattern has been established, bullish forces in the market have begun to accumulate, leading to the start of a rebound. Although there are occasional pullbacks during the rebound, the overall bullish trend is already evident. From a technical indicator perspective, some key indicators are starting to show signals favorable to the bulls. For example, trading volume has increased during the rebound, indicating that market participants have a positive attitude towards this wave of rising prices.

Currently, the market's focus is on whether Bitcoin can break through the two key price levels of 116,500 and 118,500. At the same time, Ethereum's performance is also worth noting, as the market expects it may attempt to surge towards the $3,950 area.

However, investors should remain cautious and closely monitor market changes. Although there may be profit opportunities in the short term, the high volatility of the cryptocurrency market means that risks and opportunities coexist. It is recommended that investors fully assess their risk tolerance and conduct comprehensive market analysis before making any investment decisions.