It has been oscillating here for two days, slowly raising prices to digest the previous profits, and it's a bit awkward as it can't go up or down...

The 108k level has been tested several times without establishing a solid upward trend. I don't know if this is a short squeeze market that's declining sideways; we probably have to wait until next Monday's opening for direction. This complex adjustment is quite difficult to participate in.

Fortunately, it hasn't broken through the previous swing high, so there is still a potential secondary peak expectation for BTC at this position. Now, we are observing the structural confirmation point of the previous high and the consolidation starting point at 104k below.

If it pulls back down without a significant break, it still maintains the current bullish arrangement. If the breakout fails, we need to be wary of the right shoulder pattern on the 4-hour chart;

Currently, there is no second confirmation of a breakout at a high point, nor do we see a retest of the support below.

So at this stage, the core logic remains steadfastly bearish.

To be honest, the cost of trial and error is just this little bit 🤏🏻

For those still holding on, shout out to the bears! 😁