The 4-hour chart shows that Bitcoin rebounded after closing at dawn.

However, the 30-day moving average (MA30) and the Bollinger Bands are still in a downward trend overall, and the daily 5-day moving average (MA5) is under strong pressure.

In the short term, the rebound is unlikely to effectively break through the resistance level of 105500-106000, and there is still a risk of a pullback afterwards.

Therefore, the short-term suggestion is to primarily focus on shorting during rebounds.

Target for 105500: 104500-103500 will suffice.