Although Bitcoin has strongly rebounded to around $104,000 today, it has not effectively broken through this key resistance level and has currently retraced to $103,700. The RSI on the 4-hour chart has entered the overbought zone, and the MACD volume is beginning to shrink, indicating insufficient short-term upward momentum and a potential need for a technical correction. If the price cannot stabilize above $104,000, it may retrace to the support range of $102,500 to $103,000.
From a key level perspective, $104,000 has become an important resistance level, with $103,000 below it serving as the first support. If this level is lost, it may further test the strong support at $102,500. In the evening, it is crucial to pay attention to news impacts; if the data is unfavorable, it may accelerate the correction process, and investors should be wary of market volatility risks.
In terms of operations, it is recommended that holders of long positions consider taking partial profits near $104,000, while those who have not entered the market can patiently wait for a better position. Aggressive traders may attempt to short with light positions near $104,000, strictly setting stop losses above $104,500. Overall, the market is facing short-term correction pressure, and it is advisable to control positions to mitigate risks.
