Bitcoin has been fluctuating around the recent high, 73000840303

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The bearish forces are dominant, but they haven't completely crushed the bulls.

In the early morning, it dropped to a low of 106712, but the 106500 level acted like a floor, preventing further declines. In the short term, it is likely to continue oscillating.

From the daily chart, it has closed with two consecutive bearish candles. Last night's rapid drop tested the support at the middle Bollinger Band like a 'pin', but fortunately, it didn't break through the key level and bounced back.

Currently, this pullback is a normal adjustment and hasn't damaged the overall upward trend.

On the four-hour chart, Bitcoin is swinging within a parallel box. The support at the lower edge of the box is quite solid, and the market appears strong but hasn't completely broken through yet.

Yesterday, it broke below the middle Bollinger Band and touched near the lower band, but it didn't actually break out.

In the upcoming morning and throughout the day, focus on the resistance of that downward trend line.

If it can steadily push through, it may initiate a rally; at that point, you can follow the trend, go long, or hold existing long positions;

If it can't break through, the oscillating market may continue, and you can operate flexibly, buying high and selling low, seizing wave opportunities.

In short, don't be single-minded; follow the market's direction and avoid guessing tops and bottoms.