At the end of the month and the beginning of next month, the daily line will continue to decline. This adjustment is a short-term adjustment based on the inability to break the pressure of 112000. The medium to long-term structure remains bullish. The weekly line has seen 7 consecutive positive closes, and the last week of this month ended a 7-week rally, so a bearish close this week is quite normal. Now, let's discuss the upcoming direction:

For BTC, the most important strong support below 105000 is 103800. This level is freely accessible with the area around 106400. As long as it does not break below 103800, the short-term rebound can reach as high as around 106400. Therefore, when re-entering for a short position, it should not be below 106400. The range of 103800-103300 will generally hold for a while, and then it will break down towards 101450, which is the 0.382 retracement level, considered the 'bottom-fishing' position in the short term. Usually, it will rebound back to 104000-105250, and then one must choose whether to go up or down. If the main force continues to choose down, then we will watch for a break below 100000, looking towards 98200-95000. If the main force chooses up, it will need to first break through 106800.