Reviewing the early morning market, Bitcoin quickly retraced after reaching a high of 106250, dipping to a low of 105182, and currently rebounding to around 105720, with intense long and short competition.

1. Technical Analysis at the 1-Hour Level

1. Trend Pattern

The 1-hour K-line of Bitcoin is running along the lower Bollinger Band, with the upper and middle bands continuously diverging downwards and the opening widening, clearly showing the characteristics of a downtrend channel, with a significant bearish dominance.

2. Indicator Signals

• MACD: Although there are signs of a shortening bearish momentum bar, the dual lines are still operating below the zero axis, indicating that the downward momentum has not been fully released;

• KDJ: The three lines formed a low-level golden cross and then turned, with the rebound force triggered by previous overselling being limited, making it difficult to reverse the weak trend;

• Key Support: Closely monitor the previous low support level at 105182.6; if broken, it will open up further downward space.

2. Trading Strategy Recommendations

Based on the current weak characteristics of the market, it is recommended to seize the rebound high short opportunity while strictly controlling risk:

• Bitcoin (Big Coin): Plan to short near 106000, target price 105000, set stop loss above 106300 to avoid false breakout risk;

• Ethereum: Can short at around 2420 when prices rise, target price 2355, stop loss set at 2450 to prevent adverse fluctuations.