On Monday morning, $BTC welcomed a rebound, reaching a high of 108726 but failed to hold. It began to decline in the afternoon, dropping to a low of 107341, and further dipped to 106685 in the evening. The current price has pulled back to around 107600.
From the market perspective, the four-hour MACD green bars have reached a new high for the week, indicating strong bearish momentum; the hourly EMA5 has crossed below EMA60. If it breaks below 107200, it may open up a channel for accelerated decline. The RSI (36) shows no signs of divergence and no need for oversold recovery, so it is recommended to avoid blind bottom-fishing before a breakout, and to chase long positions only after breaking through key resistance.
Midday trading suggestion for Bitcoin: short near 107600, target 106800.
