The Bitcoin market has once again demonstrated its high volatility. After experiencing a sharp decline, long positions suddenly made a strong push, driving the price up rapidly, breaking through the important threshold of $103,000, and reaching as high as around $106,000. Currently, the price of Bitcoin is fluctuating around $105,000, and market participants are closely following its subsequent direction.

Despite the strong momentum of this round of gains, we need to stay vigilant. Technical indicators suggest that the market may experience short-term overheating, leading to a need for a pullback. Additionally, investors who were previously trapped or have already made profits may choose to take profits, which could provide an opportunity for short positions to counterattack. It is worth noting that, despite the rebound, the overall downtrend has not yet been completely reversed, and this rise appears more like a brief respite during the decline.

The current price is just below a key resistance level, and the upward momentum seems to be slightly lacking, with the following buying strength also not strong enough. The previous downward structure is clearly visible, and this slight rebound has not changed the bearish dominance. If the long positions cannot quickly and powerfully break through the key resistance above, the bears may soon regain control, and the price may turn downward again.

The situation is similar for Ethereum. If it rebounds to around $2,415, it may face short-selling pressure, with an initial target possibly at $2,375. If it breaks below this level, the next support level may be around $2,320.

Given the ongoing changes in the market, investors need to remain vigilant, closely follow market trends, and look for suitable entry points. In this market environment filled with opportunities and challenges, it is especially important to remain calm and rational. Whether in a bull market or bear market, we need to analyze the market with a prudent attitude and seize potential investment opportunities.