$BTC

On the morning of the same day, Bitcoin briefly broke through the 110,000 mark to a historical high of 110,800, but then quickly fell back to 106,100, before rebounding to recover some lost ground, indicating intense long-short battles.

The current price is fluctuating around the 108,000-111,000 range, with technical signals showing a top divergence. Short-term attention should be paid to whether the historical high of 109,666 can be effectively broken.

The MACD indicator shows weakening bullish momentum, and the RSI is approaching the overbought area, necessitating caution regarding short-term pullback risks.

Market opinions are divided.

Bearish logic: After frequent long upper shadows in a high-level sideways market, the MACD has formed a death cross, coupled with signs of selling pressure from major funds. It is recommended to short during the rebound to the 110,970-111,270 range, targeting 109,870.

Operational suggestion: Focus on range strategies during the day. A breakout above 110,000 can be cautiously pursued for long positions, while a drop below 106,000 necessitates caution against a deep pullback to 102,000. The medium to long-term outlook remains bullish.