The main reason for the recent drop in BTC is the negative impact brought by the Iran war. Essentially, news cannot change the market structure; it can only accelerate the pace of market changes.

Currently, time is needed for adjustment and repair, with resistance at 104.5k above and support at 103k below. For now, we will conduct swing trading by selling high and buying low.

If we can effectively hold above 104.6k today, the rebound after this sharp drop will begin, targeting 106.5k and 107k.

From a daily perspective, BTC has the potential to form an M-top. 100.8k is a key support level; if it falls below, the confirmation of the M-top will trigger panic selling, and the price may head towards around 94k. #以色列伊朗冲突