The recent trend of $BTC has entered a clear oscillation structure, with back-and-forth harvesting between bulls and bears, failing to form an effective trend continuation. A downward probe in the early morning yesterday touched the 107400 line before stabilizing and rebounding, reaching around 109200 in the evening only to encounter resistance and fall back, bottoming out at 108100 before a slight rebound. Currently, it is hovering around 108800. In this rhythm of back-and-forth switching, our bearish strategy laid out yesterday successfully captured two rounds of downward movement.

The overall trend remains dominated by oscillation, lacking clear unilateral momentum. It is noteworthy that the aunt has recently shown relatively independent performance, with a trend diverging from the big pie. However, whether it is the big pie or the aunt, the daily level has consistently failed to achieve an effective breakthrough at high levels, with significant resistance above. Considering that the current coin price is in a high-level oscillation range, short-term retracement risks are accumulating, which needs to be closely monitored. Additionally, from the 4-hour cycle perspective, it is also in a state of oscillation and consolidation, with significant pressure after rising to the 109200 area, while support focuses around 107500. As the oscillation range continues to narrow, once a breakout occurs in the short term, it is expected to release about 3000 points of unilateral space. In terms of operations, before the key resistance level is broken, it is advisable to maintain a bearish outlook at high levels and implement a downward strategy based on this pressure.

Big Pie: Current price around 109000, looking south, first observe the breaking situation at 107500.

Aunt: 2620-2640 to continue south, looking at 2550 for breaking to then shift down to 2500.