Bitcoin surged and then fell back after the non-farm payroll data was released, currently facing pressure at the key resistance level of $105,000. The 4-hour RSI has entered the overbought zone, and the MACD momentum indicator has shown divergence, indicating insufficient short-term upward momentum. If the price cannot effectively break through the resistance range of $105,000 to $105,500, a double top structure may form, triggering a deep correction.
From a key level perspective, $105,000 has become the dividing line between bulls and bears, with $104,000 as the first support level below. If it breaks below $104, it may accelerate the correction to the range of $102,000 to $103,000. Although the current market sentiment is somewhat optimistic, the technical indicators have shown overbought signals, and caution is needed for the risk of a high-level pullback.
In terms of operations, it is recommended to continue holding short positions, with a stop-loss set above $105,500. Aggressive traders can try shorting with light positions near $105,000, targeting $103,000. Holders of long positions should consider reducing their positions near $105,000; if it breaks below $104, it is advisable to exit and observe. Attention should be focused on the contest at the $105,000 level tonight.
