Bitcoin's market continued to fluctuate downwards yesterday, with prices under pressure around 110,000. Although there was a rebound afterwards, the upward momentum began to weaken. It broke down again during the day, and is now close to the support area mentioned yesterday around 107,200, which has provided some relief. The previous gains are in pullback.

Looking at the four-hour level chart, the Bollinger Bands are in an opening posture, and the price has fallen below the midline and is operating in the lower area. The trend maintains a weak oscillation, and all moving averages are in a downward posture. The short-term range is constantly moving downwards. If the daily support of 106000 is broken again, there is a risk of continued price decline during the day. On the contrary, if the 106000 line does not break, the coin price is still biased towards an upward trend. Currently, the trend shows a downward oscillation, so if the market does not break and stabilize above 108200 during the day, the oscillating market will continue for a while.

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