Bitcoin Daily Chart Reveals Shark Pattern: The Bull-Bear Tug-of-War Under Key Support

In the current daily trend of Bitcoin, the price fluctuation trajectory is gradually aligning with the technical characteristics of the 'shark pattern.' The formation of this potential pattern will heavily depend on the breakthroughs or pullbacks of subsequent key levels, becoming an important barometer for the short-term market.

From the structural perspective, the completion of the shark pattern often requires confirmation of key high and low points, and the current price is at the stage of testing the previous support range (around $110,000). This position is not only the core battleground for recent bull-bear struggles but also the 'line of life and death' to validate the pattern's effectiveness—if the support holds, the pattern may develop into a potential reversal structure; if the support fails, the pattern is likely to evolve into a continuous downward trend.

Personally, I lean towards the possibility of a downward fluctuation in the short term: on one hand, $110,000, as a support level previously validated multiple times, has some holding power, but recent market sentiment is cautious, and the atmosphere for funds is quite wait-and-see, gradually accumulating pressure on the support; on the other hand, if this support level fails, the area around $105,000 will become the next important technical threshold. This position not only aligns with the lower edge of the previous consolidation platform but also matches the potential target of the shark pattern, possibly triggering phase-based bottom-fishing capital involvement.

However, the market always has uncertainties, and one must be wary of the possibility of a 'V-shaped reversal': if subsequent positive developments occur (such as macro liquidity easing signals, or industry policies exceeding expectations), or if the $110,000 support level experiences a significant rebound, the possibility of the price quickly recovering lost ground and forming a reversal structure cannot be ruled out. In this case, the bearish expectation of the shark pattern will become invalid, and strategies should be adjusted promptly to focus on the breakthrough of the upper resistance levels.

Overall, the current market is in a critical window period for pattern confirmation. It is advisable to remain cautious in operations, closely track the gains and losses of the $110,000 support level and changes in volume, and avoid blindly chasing orders before the pattern is clear. It is more prudent to formulate subsequent strategies after the trend signals become evident.