8.30 midnight BTC:

From the 4-hour K-line perspective, after reaching the upper Bollinger Band, it entered a clear downward channel. Observing the market, it can be seen that although there were two rebounds during the decline, the strength of the rebounds was relatively limited.

This rebound is a typical technical correction, which neither breaks through the key resistance of the descending trend line nor changes the short-term bearish dominance pattern. The overall downward pace is still continuing.

Operation advice: (personal opinion, for reference only)

Short around 109000-109500, target focus on 106800.