Bitcoin's recent price has been fluctuating at high levels, forming multiple long upper shadows, indicating strong selling pressure. After a significant price increase on the daily chart, a pullback has occurred, and it is currently in an adjustment phase. On the hourly chart, the MACD histogram is gradually shortening, and the EMA7 is crossing downward with the MA30, indicating a weakening short-term trend. However, the EMA120 still maintains an upward trend, and the long-term outlook remains bullish.

It is recommended to enter long positions around 102400~102800, with a target of 104500~105000.

Short positions should be considered around 105000~104500, with a target of 102500~101500.