Recently, Bitcoin has shown a downward trend, falling from the high point around 110600 to a low point near 104500, and is currently oscillating and stabilizing around 105688.2.

In the short term, after a rapid decline, there is potential for a rebound and recovery momentum. The flat-bottom K-line pattern indicates strong support in the 104500 area, but the overall trend remains dominated by bears. The RSI indicator shows that the price may have entered the oversold area and is experiencing a rebound, while the MACD indicator, despite indicating dominant bearish strength, shows signs of a short-term rebound and may soon enter a phase of oscillation and recovery.

However, while a rebound may occur in the short term, it is not recommended to chase long positions at this time. Close attention should be paid to key resistance levels (around 107000).

Looking for short opportunities: If the price rebounds to the resistance level of 107000-107500 and shows signs of a peak (such as a K-line turning bearish or forming a 'Evening Star' pattern), one can consider light shorting at highs, with a target towards the 104550 support level.

Cautious operation: If there is a valid breakout above 107500 with increased volume, one should pause short positions and wait for a new trend to establish; if the price falls below 104550, a new round of decline may occur, and one can consider accelerating short positions.