After experiencing a deep pullback in the evening, Bitcoin built a consolidation around 108,500 in the early morning. Subsequently, bullish forces surged, and the price quickly broke through the 110,000 psychological level. Although there was a technical pullback after the rise, the overall trend still continues to be one of consolidation and upward movement. Currently, both bulls and bears are engaged in fierce competition around the 110,000 mark.

The four-hour candlestick chart shows an alternating pattern of bullish and bearish candles, with several candles featuring long upper and lower shadows, indicating that the forces of bulls and bears are difficult to distinguish in the short term. The price is highly volatile, with frequent jumps in levels. At the same time, technical indicators such as MACD and KDJ have shown serious dullness, indicating a lack of short-term momentum in the market and a strong demand for consolidation. It is expected that a period of technical repair will be needed, and once the indicators regain directional guidance, a healthier and more sustainable upward trend can be anticipated.

The large pie can be bought between 109300-109800, target around 112000.