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The Bitcoin market today is showing a fierce range-bound situation, with prices fluctuating around $107,000. On the surface, the trend appears to have a stair-step upward characteristic, but after deeper analysis, it is found that the market may be brewing a reversal.
In the morning trading, through precise pressure level analysis, we successfully predicted the high near $107,500 and proposed a short strategy targeting the key support at $106,000. The market trend closely matched our expectations, quickly retreating after reaching the pressure level, achieving a decline of about 800 points.
From a technical analysis perspective, within the four-hour time frame, although the K-line maintains an upward trend, the upward momentum has clearly weakened, with volume and price showing divergence, indicating that the strength of the upward movement is diminishing. The MACD indicator shows a narrowing red histogram, and the two lines are about to form a death cross, releasing a strong signal of a trend reversal. At the same time, the RSI indicator has started to turn downwards in the overbought zone, and the KDJ three lines are diverging at a high level. These signs all suggest that a short-term top may have already formed.
Considering the current market structure, Bitcoin is likely to continue its downward trend. Investors are advised to closely monitor the resistance in the range of 107200-107400 USD. If the price encounters resistance and falls back in this range, the next step may test the support levels of 106000 USD and 105200 USD.
During the operation process, investors need to strictly control their positions, set reasonable stop-losses, be wary of potential market traps, and seize short-selling opportunities in the downtrend. For Ethereum, if resistance forms around 2450 dollars, its downward target may point to 2370 dollars.
Overall, the current market is at a critical turning point. Investors should remain vigilant and closely monitor price trends and changes in technical indicators, adjusting their trading strategies as necessary.