$BTC

The current price of the pancake has dropped, forming a triangular convergence pattern. Before a clear direction is established, it will continue to oscillate sideways.

During yesterday's decline, the 104 K line received support. The prerequisite for a rebound is to stay above the 105 K threshold.

When the price approaches the first resistance range of 104.8–105 K, do not rush to confirm a breakout; first observe whether there is sufficient trading volume and stabilization;

Due to the recent sideways oscillation in the market, even if it stands above 105 K, it is often difficult to sustain an upward trend unless there is a significant bullish candle that effectively breaks through; otherwise, the oscillation range thinking will remain.

Intraday, 104 K can be regarded as a key support level. If this position is lost again, it could trigger short-term selling pressure; if it breaks below 104 K, the space below could open up to 103.4 K, and the original support level will also convert to a resistance level.

Resistance levels: 105800, 105100

Support levels: 104100, 103400

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