The current market for $BTC is still in a downward exploration, and the decline has not completely released. Short-term long positions should be exited on a rebound and re-entered after further adjustments.

From the 12H to daily range, the price is still in the third phase of an upward consolidation, with the fluctuation range within normal limits, and there is still an opportunity for a fourth high. Overall, the structure has not changed compared to previous days, and there is no need to elaborate further.

From the 4H trend, under the background of a bullish run of the medium to long-term moving averages, the price is unlikely to experience a sudden sharp drop at this level. It is highly probable that it will maintain fluctuations between 100800 and 105800, waiting for moving averages like MA90 and MA120 to entangle within the fluctuation range before changing trends.