The Wednesday evening market for Bitcoin is quite stable, with no significant ups or downs, rising from a low of 106706 to a high of 107942 but unable to go higher, and then it dropped again.
Looking at the daily chart, Bitcoin has risen for three consecutive days, but the upper shadow is getting longer, indicating that the bullish momentum is weakening, and there is significant resistance above, although there is still a possibility of further upward movement.
Next, we will see if it can push against the resistance level and break a new high.
On the four-hour chart, after a period of rising, Bitcoin may need to correct.
Last night, it couldn't hold the high after a surge, and the bulls' attempt to retest was also unsuccessful, now stabilizing around 107000, with both sides in a short-term tug of war, neither gaining the upper hand.