Bitcoin continued its morning weakness in the afternoon, failing to stabilize above 107800. Bears took control of the market and pushed the price down to the 107000 level. The current price is testing the critical support at 107000. If it falls below this level effectively, it may further decline to the range of 106500-10600. The 4-hour moving averages are in a bearish arrangement, the MACD is diverging downwards with a death cross, and the RSI (38) has entered the oversold territory but has not shown divergence, indicating that the market is still dominated by bears and the rebound strength is limited.

Key Resistance and Support Analysis

The short-term resistance above is at 107800 (the afternoon rebound high point). If the price cannot break through this level, the downward trend remains unchanged. Below, 107000 serves as a psychological level; if it is lost, the bear targets will point to 106500 (Fibonacci extension) and 106000 (previous low support). Currently, market sentiment is bearish, and the rebound highs are gradually declining, consistent with the characteristics of weak corrections in a downtrend. #比特币走势分析 $BTC

Operational Strategy Suggestions

Aggressive traders may continue to hold short positions, targeting the 106500-106000 range, with stop-loss moved above 107800. If the price rebounds and faces resistance around 107500, consider adding to short positions. Conservative traders need to pay attention to the performance at the 107000 level; if it breaks down with volume, they can follow the trend. If a stabilization signal appears here, they need to be wary of short-term rebound risks. Overall, the focus remains on high shorts, cautiously bottom-fishing.