From a specific period observation, BTC has repeatedly tested below the historical high of $110,000. Despite multiple refreshes of the high points and infinitely approaching the $110,000 mark, the subsequent retracement trends have also released considerable price pullback space. From this perspective, there is a possibility that the current market is creating a false breakout to lure in buyers.

Currently, the market is very likely to enter a wide-ranging oscillation phase with a 4-hour cycle. In this pattern, $110,000 has become a significant resistance level, while $100,000 has established a key support line. These two price ranges have become the core battleground for both bulls and bears to determine the market direction. It is worth noting that, based on the trends reflected in the liquidation map data, there is a potential risk of the market falling below the $100,000 mark. Therefore, investors with a 'chasing highs and betting on rises' mentality must closely monitor the market dynamics and maintain a high degree of caution.