From a technical analysis perspective, BTC shows a clear three consecutive bearish trend at the four-hour level, with the candlestick pattern gradually forming a head and shoulders top. Bearish forces are beginning to dominate, and technical indicators suggest a short-term need for a pullback.

Upon closer observation at the one-hour level, after experiencing a significant decline, the downward momentum has slowed in the short term. The current lower Bollinger Band exhibits strong support, leading to a technical rebound in price.

However, it is noteworthy that the KDJ indicator has formed a dead cross arrangement with its three lines, and the MACD indicator has also consistently remained in the negative range. The resonance of both signals releases a clear bearish signal, indicating that the overall market still maintains a weak pattern.

The large pie is short near 107200, looking down to 10500#比特币 .