Today, the Bitcoin market is showing a typical pattern of consolidation, with both bulls and bears fiercely competing around key price levels. As of the time of writing, the Bitcoin price is fluctuating between $104,161 and $106,000, with a 24-hour increase of 0.3% and a trading volume of $40.744 billion. This article will analyze the current Bitcoin market trends and potential future developments by combining technical indicators, market sentiment, and macroeconomic factors.

After opening today, Bitcoin has shown a narrow range of fluctuations, currently hovering around $105,000, continuing the recent characteristic of "mysteriously shrinking" trading volume. From a technical perspective, the market is at a critical turning point; the $106,000 level is a pressure point that has started to pull back. If this pressure level cannot be broken, the subsequent market trend will continue to be sluggish. As the leader in the cryptocurrency space, Bitcoin's movements have a more or less correlated impact on other cryptocurrencies. Studying Bitcoin's trends is beneficial for analyzing other coins.

Technical Indicators and Pattern Analysis

-- MACD and Volume Indicators

The MACD indicator shows an expanding green momentum bar, with short-term moving averages applying downward pressure, indicating that bearish forces are temporarily dominant. However, the recent appearance of a "morning star" and bullish engulfing patterns suggests a potential short-term rebound, but analysts warn that the height of this rebound may be limited.

-- RSI Indicator

The Relative Strength Index (RSI) is in a neutral zone, showing neither overbought nor oversold conditions. More critically, there is a clear bullish divergence between the price and the RSI—while Bitcoin's price has made lower lows, the RSI trend is rising, indicating that bearish momentum is weakening and a bullish reversal may be imminent.

-- Triangle Breakout Pattern

Bitcoin is trading within a descending triangle pattern. Analysts point out that if it successfully breaks out of this pattern, the price could rise to a target of $118,000. In the short term, the price may deviate below the trendline at $107,000, leading to common liquidity sweeps.

Trading Suggestions

For Bitcoin, it is recommended to short around $105,200 with a target of $104,000-$103,500.

For Ethereum, it is recommended to short around $2,600 with a target of $2,540-$2,500.

There are many types of investments, and it is important to choose the one that suits you. There are many paths, and choosing the right guide is crucial. I am Gu Yue, interpreting global economic news, analyzing major global investment trends, and providing daily market analysis to offer you the latest trading strategy ideas and professional investment consulting services to help you reach the peak of financial management.

This article represents personal views only and is for reference only, not to be used as a basis for actual operations. Market conditions are unpredictable, and profits and losses are at your own risk. For the latest trading strategies, follow the public account: Gu Yue KOL.

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