The current market is greatly influenced by the international events of Iran and Israel's conflict.
Each time there is a major drop, yesterday it even fell below the 100,000 mark, which was anticipated by the major players beforehand.
The current market trend is filled with uncertainty, and negative events could suddenly disrupt the trend at any moment.
Therefore, operations must be cautious; either stay in cash and wait.
Looking at the BTC 4-hour Fibonacci, the market fell below 100,000 to around 98,000, then started a small rebound. However, the major players feel that the rebound strength won't be too strong; the nature of this market has been discussed before, and the pattern hasn't changed at all.
The first resistance level is around 104,000. If it breaks through this level without enough momentum, it will continue to pull back. The second resistance level is around 107,000; breaking through this level would lead to another peak. As long as there’s a quick spike to this level, it will continue to pull back, with the market oscillating back and forth.
The first support level is around 99,700. If the market shows weakness in rising, it will continue to drop near this level, then rebound. The second support level is around 96,300, which is also a strong support level. If the market falls, it should quickly spike to this level and then rebound. If the second support level is broken, the market can be expected to enter a bear market, leading to significant losses!!!