Market Review and Current Trends:
In the afternoon, Bitcoin surged to around 105,900 but faced downward pressure, forming an M-shaped double top structure, aligning with the expectations of short positions at noon, with a target of a 2000-point movement. Currently, the price of the coin has pulled back to around 103,800, with key short-term support moving down to 103,500. If it stabilizes, it may form a bottom on an hourly basis, providing conditions for a rebound.
Bullish Key Signals and Strategies:
The range of 103,000-103,500 is a resonance zone with the daily trendline support and the Fibonacci 38.2% retracement level, combined with shrinking volume and weakened bearish momentum. If the price stabilizes above 103,500, a light long position can be attempted (with a stop loss below 103,000), targeting 104,500-105,000; if it breaks down below 103,000 with increased volume, then it is necessary to watch and wait for confirmation of lower support.
Evening Outlook and Risk Control:
The four-hour RSI is oversold and there is a need for correction; if US stocks warm up after opening, it may boost a rebound. The operation will focus on low long positions, paying attention to stabilization signals in the 103,500-103,000 region, and right-side breakouts can be followed up on, with strict stop-loss to prevent breakout risks.
