Recently, the price of Bitcoin has been fluctuating around $107,000, showing a typical high-level consolidation pattern. With the rise of the U.S. stock market, Bitcoin briefly attempted to break through the $108,000 mark but was unsuccessful, indicating that market momentum has weakened after a strong rebound in the previous period. $BTC
Currently, the bulls and bears are in a tug-of-war, and in the short term, the price of Bitcoin may continue to hover around the high level of $108,000. However, investors need to be wary of potential pullback risks, especially since the historical high of $108,900 set on March 17 has not yet been broken.
From a technical perspective, the mid-level support on the 4-hour chart is around $106,300, which will be an important observation point in the short term. If this support level is broken, Bitcoin may further retreat to the lower support position of $103,800.
This high-level oscillation pattern reflects increasing divergence among market participants at the current price level. On one hand, bullish sentiment is still supporting Bitcoin to maintain near historical highs; on the other hand, profit-taking pressure and technical pullback demand are also accumulating.
For investors, it is crucial to remain cautious and patient at this stage. Although the long-term trend remains positive, the market may need some time to digest the previous rapid increase and accumulate energy for the next phase of movement. Closely monitoring the performance of key support levels will help in judging the short-term market direction.
Do not bring fans to explode the cabin, nor blindly open positions.
All are seeking stable victories, steadily advancing; those who want to make profits should hurry and get on board!
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