Based on the current market performance and news analysis, the movement of Bitcoin is closely related to the 1-hour Bollinger Band support level. There are currently two trends worth paying attention to, which one do you think it is?

Firstly, if the 1-hour Bollinger Band support level holds effectively, the price is expected to initiate a rebound, directly aiming for the range of $109,000 - $109,500, testing the upper resistance of the daily Bollinger Band;

Secondly, once the 1-hour Bollinger Band support level is effectively broken, the price of Bitcoin may drop sharply, seeking support around $104,500.