Recently, the price of Bitcoin has been continuously rising, maintaining an upward trend in the short term. However, as it approaches the key price level of $110,000, it faces concentrated selling pressure from short sellers, resulting in stagnation in price. From a technical perspective, a long upper shadow and small bearish and bullish consolidation patterns have appeared at high levels, indicating significant pressure above.

In the future, it is crucial to pay close attention to the breakout situation at the $110,000 mark. If it cannot form an effective breakthrough, it is expected that the price will begin to correct. Investors are advised to maintain a bearish outlook and seize swing trading opportunities.

It is suggested to short in the range of 108,700-109,300, targeting 107,000.

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