Today, the price of Bitcoin has temporarily stopped falling, showing a technical rebound after the big dump on an hourly level. However, the overall market is still maintaining a downward channel. From a technical perspective, if it cannot stabilize above the 105600 level today and reverse the short-term downward trend, facing a market environment with insufficient liquidity over the weekend, Bitcoin is likely to form a fluctuating downward trend, with a target price potentially reaching 102800.

From a longer time frame perspective, the technical pattern at the four-hour level shows that only a breakout above the 107600 point can effectively change the current downward range trend. At present, the hourly and four-hour cycles are highly consistent, with no obvious divergence signals appearing, which undoubtedly increases the difficulty of price upward movement.

From a trading strategy perspective, investors may consider attempting to go long around 104200, targeting 105600; if it can effectively break through and stabilize at that level, then they can continue to hold until the 107600 area.

However, if the price fails to break through the resistance level of 105600, it is recommended to switch to a short position near 105500, paying attention to the testing reaction at the support level of 102800. Market participants should closely monitor the changes in trading volume during the weekend and adjust their position management strategies.