After a deep adjustment over the weekend, BTC is showing range-bound fluctuations in the short term. Under strong pressure at the 105,000 level, the market's high points are gradually declining, bullish momentum is weakening, and the risk of a pullback is increasing.

On the 4-hour level, the Bollinger Bands are narrowing, and short-term selling pressure in the market is significant, with strong expectations for a short-term pullback.

Trading suggestion: BTC rebounds near the range of 105,000-105,500, looking down at 103,300-101,000.