The overall pace of Bitcoin is currently weak, continuously under pressure and declining, with a minimum drop to the 105580 level, creating a new phase low, and the bearish force is strong;

Although there was a rebound of about 700 points afterwards, under the bearish trend, it is only a temporary correction, failing to break through key resistance levels, with no sustained recovery momentum;

K-line shows obvious signs of closing lower, short-term moving averages are in a bearish arrangement, MACD has a dead cross divergence, the Bollinger Bands are opening downwards, and the price is operating at the lower band, with bearish momentum continuing to strengthen, confirming the short-term downtrend;

Personal trading suggestion: Enter short positions on rebounds above 106000, and go long near the key support at 104000, targeting 107500 and 108700! $BTC