From the four-hour K-line perspective, the Bitcoin trend is very weak. Each time the bullish momentum rebounds, it is lower than the previous high, and the rebound is not very strong, indicating a continuous decline in bullish strength. The four-hour chart has also been suppressed by the EMA10 moving average, unable to rise. The current position is exactly at the 236 level - 104556. The upper rebound space is between 105700 and 106663, and this range can be used to short on highs. The upper 618 is also a key resistance level; breaking 107600 would indicate a bullish trend. It is estimated that it is still very likely to drop, and breaking 100,000 would be an easy task.