Yesterday, Bitcoin bulls attempted to break through the key resistance level of $106,500. After failing to succeed, they entered a high-level consolidation phase. However, the market experienced a dramatic turn during the night, as bearish forces suddenly gained strength, leading to a sharp price decline, with a low reaching $102,200.
Currently, the price is maintaining a fluctuating pattern around $103,300. From the market performance, bears dominate, and market sentiment is leaning bearish. Considering the current technical indicators and market sentiment, Bitcoin still faces further downside risks. Given that U.S. stock markets are closed over the weekend, high short and low long positions can be arranged near the key resistance and support levels!
