Is BTC going south or north

106700 is a crucial position

Currently, BTC has reached around 108200, encountering resistance and starting to pull back. So is 108200 the high point this time, or will it continue to rise after the pullback? Here, we need to focus on the price of 106700. If this pullback can hold above 106700, then BTC is likely to push forward, breaking through the resistance level of 108900, and thereafter we should look towards new highs of 120000, 130000. However, if it breaks below 106700 and cannot reclaim this position, then BTC will start to plummet, potentially dropping below 98000 and heading towards around 95000. Why is the position of 106700 so critical?

Looking back through history, you will find that breaking below 106700 usually leads to a waterfall decline, while breaking above 106700 typically results in a significant rise. Therefore, you will notice that the support and resistance at 106700 is very strong; it's not easy to break through, nor is it easy to fall below. This is a key position, so everyone can pay attention to this level. If it breaks below, you can short; if it holds, you can go long!