This BTC/USDT daily chart shows the following analysis

Key levels: Upper resistance 107451.0, range resistance 104992.4, current price 103165.1, bottom support 97839.9

Currently, the upward channel of Bitcoin has been broken, and it is obvious that the trend is still downward. The head and shoulders pattern has formed, and the downward trend has not yet stopped. Currently, we are waiting for another rebound to set up short positions near the range resistance at 104992, with the target looking at the bottom support level of 97839.

Cryptocurrency trading is highly risky, and caution is required.