Bitcoin has fallen below the key support level of $107,000, with a bearish pattern dominating in the technical analysis. The current MACD indicator continues to release bearish momentum, and the RSI indicator has dropped below 50 and entered the weak zone. Additionally, there was a net outflow of over $5.74 million in main funds in a single day, significantly increasing selling pressure in the market.
It is worth noting that a large market sell order of $2.32 million that appeared in the early morning directly suppressed the price, while the positive news of a $900 million net inflow into Bitcoin ETFs this week failed to offset the selling pressure, indicating weak short-term market sentiment.
Operational Suggestions
Bitcoin $107,000-$107,500 range, looking down to $105,000.
Ethereum $2,740-$2,760 range, looking down to $2,660.
