Bitcoin surged to the 1092 line yesterday but encountered strong resistance and fell back. Currently, the price is attempting to rise again near 1090.
From the hourly perspective, the Bollinger Bands are continuously narrowing, and the price is clearly being suppressed by the upper band, limiting the upward movement. The highs are showing a gradual downward trend, indicating insufficient strength for a short-term rally, failing to effectively break through key resistance levels and establish a foothold.
Thus, it can be seen that the rebound is not a trend reversal. If there is a subsequent rebound, we will continue to adopt a strategy of selling high and buying low!
Bitcoin: around 109800-109500
Short-term outlook: 107500–106000
If it breaks the key support level of 106000, it could continue to decline.
Long-term outlook: 105000
