Based on the current hourly trend of $BTC , the market continues to show a downward trend overall. The price has retreated from a high of 110300, experiencing some minor rebounds in between, but the strength has been limited.

After breaking below the lower Bollinger Band, it quickly dipped to around 102600, forming a temporary low. Subsequently, a corrective rebound occurred, and the price has now returned near the middle band, facing resistance. Short-term upward momentum appears to be slightly weak. Overall, it still belongs to a technical rebound phase within a bearish trend. If it fails to effectively break the pressure above 106000, the market is likely to continue to oscillate and weaken. In terms of operation, it is still recommended to maintain a bearish outlook and consider positioning on rallies.