The Bitcoin market seems to be at a critical turning point. From the technical analysis across multiple time frames, it is likely that Bitcoin will face a downward adjustment in the short term.

Market signals indicate that the bullish momentum is gradually weakening. Bitcoin has attempted multiple times to break through the $110,000 mark but has failed to succeed, which may suggest that the market will opt for a direction with less resistance, namely a downward adjustment.

According to the current market trend, the Bitcoin price may retreat to around $105,000, and it could even touch the psychological level of $100,000. This adjustment may occur within the current descending channel, accompanied by a certain degree of price volatility.

However, it is worth noting that despite potential downward pressure in the short term, the market remains optimistic about Bitcoin from a medium to long-term perspective. Many analysts believe that Bitcoin is still expected to reach a price level of 150,000 to 160,000 USD in the near future.

Investors should closely monitor market trends and fully consider short-term risks and long-term potential when making investment decisions. At the same time, it is essential to remember the high volatility characteristics of the cryptocurrency market, and effective risk management is crucial.