Although Bitcoin has rebounded significantly from around the 100,000 mark, I believe this round of increase is more inclined to be a technical rebound rather than the starting point of a new bull market.

From the perspective of short-term patterns, the market is brewing a potential ascending wedge structure. This pattern typically appears at the end of an upward trend, suggesting a weakening of momentum. If this pattern holds, there is a technical demand for the price to break below the current support and retest the 106,000 area for support.

According to the measurement target of this ascending wedge, this round of rebound may reach the range of 112,000 to 114,000. It is important to emphasize that if the price effectively reaches this target area, the risk of the market peaking and retracing will significantly increase.