From the twelve-hour structure chart of Bitcoin, we see that it successfully stopped near 110500 after a drop of 3000 points, and the market continues to ferment. From the indicator chart, the high position dead cross is sticking downward, and the KDJ is opening and thickening downward. The falling point is still given in the range of 104500-103500. If the daily line gives a continued high position doji today, then tomorrow, as it's Monday's opening, if it rebounds but does not stabilize above 109500, the market will continue to show a downward channel trend. The fifth wave tail forming in the twelve-hour chart indicates that the high position is continuing to distribute, only having made a large V-shaped rebound. Over the weekend, there has been little volatility with a total space of a few hundred points, and the hourly chart has already started to stabilize with volume beginning to contract.
