$BTC Daily Level

The MACD indicator shows that bearish momentum is dominant, with the DIF and DEA operating below the zero axis, green bars are shortening but have not formed a golden cross.

The RSI (Relative Strength Index) is at 36, close to the oversold area, indicating short-term rebound demand, but a breakthrough above $105,800 is needed to confirm a reversal.

4-Hour Level

EMA7 ($103,474) and EMA30 ($103,950) have formed a death cross, restricting price rebounds within the moving average system.

If it falls below $103,000, it may further probe down to $101,400 (Fibonacci retracement level).

Bull-Bear Divergence

Bullish View: A rebound may occur after the technical oversold condition, coupled with ETF fund inflows, with a short-term target looking towards $108,000.

Bearish View: The trend turns bearish after the daily break, and if it loses $103,000, it may probe down to the psychological level of $100,000.

Trading Strategy Reference

Bullish: If it stabilizes above $104,500, a light long position can be taken, targeting $106,000-$108,000, with a stop loss at $103,000.

Bearish: Establish a short position around $105,800, targeting $103,500-$101,400, with a stop loss at $106,500.