#Gate 30天净流入全球第一

Bitcoin faced strong resistance when it tried to break through the 109,000 mark yesterday, forming a clear long upper shadow, highlighting significant selling pressure in that price range. The price sharply retraced during the day, nearly engulfing all the gains from the previous trading day. The price of Bitcoin maintained high-level fluctuations in the early morning, consolidating near the 107,000 level after falling from 107,811 to 106,682. Although there was a technical rebound at night, the downward trend line's resistance remained firm. On the four-hour chart, the price quickly found support after touching the middle band of the Bollinger Bands, reflecting strong buying power at lower levels. Currently, both bulls and bears are fiercely competing in the middle band area, without breaking the consolidation pattern. It is worth noting that after a large bearish candle, three consecutive doji candlesticks with long upper and lower shadows have appeared, suggesting the market is at a critical turning point. Although short-term bears dominate, the dense appearance of doji candlesticks may indicate a trend reversal signal, and the current market is likely to maintain a wide-range fluctuation trend. The forces of both bulls and bears are in a stalemate, with price fluctuations repeating and lacking trend continuity. In the short term, the lower level of 106,500 becomes a key support level. If this support level can be effectively defended, the market is expected to continue the consolidation trend; once the support level is broken and stabilized, the downside space will open up, and the market will enter a unilateral downward trend, allowing for short positions to be followed.