Before the overall structure of Bitcoin changes significantly, there is still limited room for upward movement. However, considering the adequate consolidation below the 4-hour level, there is a possibility for prices to surge upwards first. The recent trend pattern is likely to be a rise followed by a fall.

From the 12-hour to daily trend perspective, the price range has not changed compared to the previous two days. However, since the current level has shifted from pushing upwards to consolidating, the probability of a push towards the resistance zone of 108790~110164 has increased.

From the 4-hour trend, the price reached a high point above the MA250 level and then consolidated for 40 hours. The recent consolidation center is significantly higher than the center before the decline, suggesting that the current price's pullback above the MA250 can be seen as a healthy adjustment within the consolidation, indicating a buying opportunity.

From the 1-hour trend, the price is entangled with the MA30, and some long-term moving averages exhibit a bullish state at an angle of 30~45°. This indicates that it is not easy to see a sharp drop above the MA120 at this level. Even if a sharp drop occurs based on the MA120, it presents an opportunity for a rebound participation on the hourly chart.

In summary: The 4-hour level is a mid-term cycle that plays a transitional role in technical analysis. After adequate consolidation at this level, when the MA30 and MA250 cross upwards, there is a relatively good chance to initiate an upward surge. However, be cautious; it is not yet a trend-driven rise, so do not expect too much at levels above 4 hours. For levels below 4 hours, short-term operations can be considered in conjunction with support.

Aggressive position: Current price range 106550~105244 (small position 1:2), stop loss at 104430 (1H entity), betting on the resistance zone.

Resistance zone 108790~110164, short-term support 102940~102068 (watch closely for quick entry and exit), second support 100475~99236 (low probability point but can be placed).