Morning live trading entry near 106900 for long positions, exit at 107600, with a profit retracement of over a hundred points. Although we didn't capture a lot, our principle is to focus on stability.

Technical analysis based on the intraday trend shows that despite Bitcoin's technical recovery after a dip in the early hours, various indicators suggest that this round of increase is more likely a brief consolidation pattern within a downward process. Market characteristics indicate that while the bulls intend to push higher, their momentum has clearly weakened, and the price increase is becoming increasingly sluggish, with a significant slowdown in pace. This phenomenon of weakening momentum and price stagnation subtly reveals that selling pressure is quietly accumulating, building strength for subsequent downward movement.

On the hourly chart level, the upper Bollinger Band has formed a solid resistance area, with prices repeatedly testing this position and quickly retreating, creating a dense top resistance zone. Three consecutive attempts to break through the key resistance have all failed.

On the four-hour chart, prices are continuously operating above the lower Bollinger Band and are currently testing the mid-band's resistance effect. The moving average system shows a typical bearish arrangement, with the 5-day moving average crossing below the 10-day moving average, continuously exerting downward pressure and forming multiple resistance barriers. This indicates that the short-term rebound momentum may have been exhausted, and future trends are likely to revert to the main downward trend.

The current apparent oscillation and consolidation pattern is, in essence, a critical window period for bears to gather strength. As the balance of power gradually tilts, the market structure is accelerating towards a seller-dominated direction.

In the evening, if Bitcoin rebounds, we can short it.