The Bitcoin market trend has slowed in the afternoon, but it is still dominated by bears. The shape of the K-line and the MACD indicator both show strong downward pressure, which indicates that the Bitcoin price may continue to decline in the short term. If the price remains below 110000 without an effective rebound, breaking below the 110000 support level could lead to further declines to 108500 or even lower support levels. Currently, there is a certain rebound, but the strength is weak and the rebound space is limited. In the short term, maintain a high caution approach, and after breaking the support level, it may be appropriate to add some positions.
Bitcoin 110200-110700 range, target around 108000;
