The price of Bitcoin has continued to fluctuate in a high range today, with the market showing consecutive long upper shadows and closing in the red. These technical patterns reflect that buying power is gradually weakening.

Recently, the price has failed to break through the previous high of $110,653, and instead has repeatedly retreated, forming relative low points, indicating an overall bearish market trend.

The market's focus is now on whether Bitcoin can effectively break through the $110,000 mark and solidly stand above previous highs.

值得注意的是,机构资金流向和监管环境变化(如美国稳定币相关legislation进展、listed company 增持数字资产等)正在显有影响市场走势,这些外部因素可能会在短期内改变市场方向,投资者在操作时务必设置止损位置,做好风险管理。

From a technical perspective, a long position could be considered around the price level of 109,000, with an initial target aimed at the 110,000 mark. If this level can be broken with increased volume, it may lead to further gains.