Today BTC is operating in the triangular range of 103500-106800:

• Operation Suggestion: The upper level around 106800 is a resistance level; if it rebounds to the 107000-106800 range without breaking, a short position can be taken. If it breaks, look for a short around 108300; the lower level of 103500 is a support level; if it retraces to 103300-103500 without breaking, a long position can be taken. If it breaks, look for a long around 101500.

• Technical Analysis: The daily chart closed higher, the Bollinger Bands are contracting, and there is resistance around 106800; a short position can be considered down to 103500; the 3-hour chart shows the Bollinger Bands opening up, with support around 104500; if it doesn't break, consider a long; if it breaks, look to 103500; the 1-hour chart focuses on whether the resistance at 106800 is broken; if not, continue to short; the 4-hour MACD indicator shows divergence, indicating a possible market reversal, which needs to be assessed with other indicators.

• Overall Trend: The main strategy today is to short at high rebound levels.