Today, the Bitcoin market showed an initial rise followed by a decline, but is expected to continue a bullish trend. In the morning, the Bitcoin price opened at $104,228. Under the competition between bulls and bears in the market, the bulls gradually gained strength, leading to a steady price increase, with buying pressure continuing to strengthen, pushing the Bitcoin price higher. By the morning, the Bitcoin price rose to a maximum of $105,504, remaining in a relatively stable upward channel. However, at noon, the market experienced a reversal. The price started a straight decline from $105,184, with bearish pressure suddenly increasing and a large number of sell orders flooding the market, causing the Bitcoin price to drop sharply. However, after touching $103,855, the Bitcoin price did not continue to decline but instead rebounded from the bottom and began to rise continuously.

From a technical indicator analysis, the current Bitcoin price rebounded after a decline. Although the short-term moving average system was somewhat disturbed, the long-term moving average still maintained an upward trend, indicating that the market's long-term bullish pattern has not fundamentally changed. At the same time, from a trading volume perspective, the trading volume significantly increased during the decline, indicating a large divergence between bulls and bears in the market. During the rebound phase, the trading volume also remained at a relatively high level, suggesting that a large amount of capital entered the market to support the price increase.

Large pie 🫓 104,000-104,400, looking at 106,500

Second pie around 2,450, looking at 255,046,732,701,632