Is BTC going south or north?

The position 106700 is crucial.

Currently, BTC is around 108200, encountering resistance and starting to pull back. So, is the 108200 position the high point this time, or will it continue to surge after the pullback? The price we need to pay attention to here is 106700. If this pullback can hold above 106700, then BTC is likely to push forward again, breaking through the resistance level of 108900, and after that, we would look at new highs of 120000 and 130000. However, if it breaks below 106700 and cannot regain that position, then BTC will likely start to plummet, dropping below 98000 and approaching 95000. So, why is the 106700 position critical?

Through historical review, you will find that after breaking below 106700, there has basically been a waterfall, and after breaking above 106700, there has basically been a significant rise. Therefore, you will notice that 106700 is a very strong support and resistance level; it is either very hard to break through or very hard to fall below. This is a key position, so everyone can pay attention to this level: if it breaks below, you can go short, and if it holds, you can go long!