Over the weekend, the digital currency market experienced significant fluctuations, both positive and negative. On Thursday, the price of Bitcoin surpassed $30,500, resulting in a 4% growth and breaking the previous price ceiling. However, this breakout turned out to be temporary as a rapid rebound occurred on the Bitcoin chart the following night. The downward movement was particularly strong, completely engulfing the previous bullish candle and forming an Engulfing candlestick pattern below the main resistance area on the daily timeframe. Consequently, breaking the last ceiling at $31,800 seems unlikely given the current conditions, which is crucial for further price growth. Furthermore, the upward trend line of Bitcoin has been breached in the four-hour period, indicating the potential for a trend reversal in this timeframe. In the short term, Bitcoin appears to be trading within a range channel, but there is an increased possibility of breaking the channel from the bottom. If this occurs, the initial support level for Bitcoin would be around $28,155.