Yesterday, Bitcoin (BTC) fluctuated upwards and approached the 109 level but ultimately failed to break through, also validating the previously mentioned selling pressure zone at 108-109. Currently, after a series of consecutive gains, a large bearish candle has retraced, and on the hourly chart, it has fallen below the middle band, indicating that an overall downtrend has formed. At this point, we are watching whether the support at 106000 can hold effectively.

Near 107000-107500, pay attention to 106000; if it breaks down, watch the area around 105300.