The morning Bitcoin first experienced a strong downward probe, again missing out on the coin price, hitting a low near 104,500. Subsequently, after stabilizing at the bottom, it began a slight rebound, and the coin price once again stood above 105,500, reaching a maximum of 106,100. However, the momentum above was clearly insufficient to support a second stretch, facing resistance again near 106,000, and the coin price began to slowly decline. Currently, the coin price has retraced to around 105,600.
From a technical perspective, it shows strong selling pressure above, and during the rebound process, there was insufficient volume, resulting in a "volume-less surge." If it cannot stabilize above the support at 105,500 in the short term, it may again probe down to 104,500 or even the 104,000 level. The 1-hour MACD and RSI indicators show weakening bullish momentum, and the 4-hour moving averages are in a bearish arrangement, with 106,000 becoming a key resistance level, maintaining a high rebound outlook.
In the short term, focus on the effectiveness of the 105,500 support. If this level is broken, it may accelerate the downward test of the 104,000-104,500 range; conversely, if it breaks through 106,200 with volume, the short-term bearish pattern may be disrupted. Current market sentiment is cautious, and it is recommended to mainly short on rallies, strictly set stop losses, and guard against sudden rebound risks.
