1. Core points and trend analysis
The key to today's Bitcoin market trend focuses on the core price level of 106150. The outcome of the bull-bear battle at this level will directly determine the subsequent market direction, while the performance of the small timeframe candlestick retracement is of utmost importance.
Bearish dominant pattern
If the smaller timeframe retraces and the price breaks below 106150, it indicates that the hourly level's corrective trend has officially begun, with bearish forces dominating. At this point, market caution will significantly increase, and a strong wait-and-see atmosphere will prevail. The lower support levels become key defense lines in succession:
- 105200 Primary support: Short-term moving averages densely converge here, forming a cushion that can weaken the bearish impact during the initial downward attempt.
- 104110 Psychological defense line: This level has withstood multiple tests during previous price fluctuations, carrying significant psychological expectations for the market. If it is lost, panic sentiment may be ignited.
- 102757 Strategic location: Multiple period moving averages converge here, making it a 'battleground' for bulls and bears. If broken by bears, it could trigger a larger downward trend, further exacerbating market panic.
Bullish counterattack signal
When the smaller timeframe retraces, if the price consistently holds above 106150 and maintains over subsequent periods, it indicates that bulls firmly control market initiative, and the upward trend is likely to continue. This will effectively boost market confidence in going long and attract incremental capital into the market. As for upper resistance levels:
- 107300 is at the upper edge of the recent consolidation range, gathering a large number of profit-taking and trapped positions, becoming the primary obstacle for bulls to break through.
- 108330 is a key Fibonacci resistance level, creating strong pressure on price upward movements. A breakthrough requires substantial buying power to drive it.
- 110000 coincides with the important moving average pressure area. If these resistance levels can be successfully breached, Bitcoin prices may open up new upward space.
2. Summary
106150 The battle between bulls and bears at this critical price level is the core of the intraday movement of Bitcoin. If the smaller timeframe can effectively stabilize above this position, bulls are expected to challenge the pressure range of 107300 - 110000; if it cannot hold, one must be wary of the risk of price retracing to the area of 105200 - 102757. It is recommended that everyone closely monitor the changes in small timeframe candlestick patterns, strictly implement stop-loss and take-profit strategies, and manage positions reasonably!$BTC #BTC挑战11万大关 #BTC走势分析 
