Because the Federal Reserve has implemented a "hawkish rate cut" (it looks like a rate cut, but repeatedly expressing that a rate cut in December is not set in stone), the result fell sharply, hitting a low of 109,000!
Now, China and the U.S. are meeting to talk, and if the talks go well, BTC will likely either continue to fluctuate or surge; if the talks go poorly, the price might drop directly.
In this situation, looking at technical indicators is useless; it all depends on the outcome of these major events. However, at this price level, going long is still more cost-effective—after all, they have sat down to talk, so there should be some good news, right?