In the past two days, the Bitcoin market has experienced significant price volatility. After reaching an all-time high on July 14, the Bitcoin price quickly fell, dropping to a low of 115,678 USD. Subsequently, the market showed a V-shaped rebound and is currently oscillating around 118,499 USD.

From a technical indicator perspective, the daily RSI has fallen from 78 to 69, indicating that the market has cooled down from an overheated state and entered a healthier range. On the 4-hour chart, the RSI fluctuates around 56; although it hasn't fully recovered yet, the short-term correction pressure has eased.

Regarding the MACD indicator, the daily chart's histogram has narrowed from 0.35 to 0.18, while the fast and slow lines still maintain a golden cross state. This indicates that although bullish momentum has weakened somewhat, the overall trend has not yet reversed. On the 4-hour chart, the MACD red histogram has shrunk to 0.08, and short-term upward signals have weakened.

It is worth noting that the moving average system at the daily level (5-day, 10-day, 20-day moving averages) remains in a bullish arrangement, which provides certain support for the mid-term trend.

For the market outlook on July 16, investors should pay attention to the support range of $116,000-$115,500. If this area can be held, the market is expected to attempt to rally towards the $117,500-$119,000 range. However, given the recent increase in market volatility, investors still need to remain cautious and manage risks appropriately.