Bitcoin's price experienced a significant drop yesterday, breaking through the low point, with the price hitting a low around 105,300. Fortunately, it did not break below the weekly lower support, otherwise, we would truly face another plunge in the crypto market.

On the four-hour chart, the price has formed a head and shoulders pattern, with the candlestick still testing near the bottom support. It has not broken through to continue the decline. Yesterday's dip was followed by a rebound, providing some relief for the bulls. If today's price can stabilize above 106,000, the bulls may still have some room to turn back; otherwise, it would be a nightmare for the bulls. Therefore, I believe the focus should be on bullish positions for the time being.

Currently, I can see a bullish outlook around 105,500-105,200, with a target towards 107,500.

Follow the public account, "How to Relieve Worries, Only Jiang Wei," a treasure analysis blogger with high emotional value, offering free trading education. Bringing stability and clear guidance in the restless trading market, with experience through three cycles of bull and bear markets and years of practical trading experience. Proficient in naked K, trends, Dow theory, Gann, harmonics, Chan theory, Elliott wave theory, and other technical analyses, culminating in unique personal insights.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。