$BTC
From the daily chart perspective, Bitcoin has recently shown a consolidation pattern at low levels, having fallen for three consecutive days, forming a three-day bearish pattern.
This morning, it again closed in the red, currently in a local correction phase at low levels, with the downward trend slightly easing, entering an adjustment space.
Observing the four-hour chart, the Bollinger Bands have begun to contract. Previously, there was a wave of continuous bearish movements, dropping from around 108000 to the morning's low of 102600.
In the afternoon, the market entered a phase of oscillation recovery, consistent with common patterns of small cycle adjustments. This does not necessarily indicate a trend reversal but is more likely an adjustment wave.
In the short term, Bitcoin is expected to welcome a wave of bullish recovery.
Afternoon trading suggestion for Bitcoin: Look for a bullish position in the range of 103500-103000, with a target focus on 105500.
