The current BTC four-hour level has confirmed a downward trend, with key support around $106,000 being tested.

Yesterday, the price briefly rebounded at the $106,500 support level but failed to break through the upper resistance, indicating insufficient bullish momentum. If today it effectively breaks below the $106,000 mark, it may accelerate the decline towards the $103,000-$104,000 range in the short term.

From a technical structure perspective, a downward channel has formed at the four-hour level. If the bears continue to exert pressure, the target for the lower boundary of the channel can be seen around $96,000.

Close attention should be paid to changes in trading volume and the defense of the $106,000 support level. A break below this will open up further downward space.