Currently, the overall trend of Bitcoin is in a downward oscillation state. In the short term, there is a certain demand for rebound, but it still lacks obvious upward momentum continuation.

Both the RSI and MACD indicators show that there is potential for a rebound in the market in the short term, but the overbought signal from the KDJ may face short-term pullback pressure. Therefore, it is expected that the price trend will mainly be characterized by oscillation and consolidation in the short term.

However, caution is needed if it breaks below the 108000 integer level, as the market may continue to seek support below.

From the candlestick chart, a "doji" pattern has recently appeared, indicating that the direction is not clear; previously, there was a "three black crows" bearish pattern and a "bullish engulfing" rebound signal. Additionally, the continuation of the trend in trading volume is also insufficient.

Therefore, in the early session, we will first look for a rebound to the upper range of 109500—109800 for potential entry, and below, we will successively focus on the levels of 108000, 107600, and 106400!