BTC midnight commentary: After a sharp fall, the pace slows down, and it oscillates to build strength waiting for direction.

Just noticed the movement of BTC - there was a sharp fall just now that directly broke through the 108796 level, hitting a low before currently stabilizing around 108956.

From the market perspective, the previously strong bearish momentum seems to have subsided, and the market is no longer in a one-sided decline, but rather showing clear signs of recovery. However, in my opinion, the actions of the market makers may not necessarily aim to completely wipe out positions, as there are very few remaining clear positions below, and there is insufficient momentum for further deep declines; meanwhile, there has not yet been a dense accumulation of positions above, lacking direct support for a rise.

Therefore, at the current position, it is highly likely that there will not be an immediate choice of direction. It is more probable that it will enter a stage of oscillation and tugging, digesting floating chips through back-and-forth grinding and accumulating momentum. Once the chips are settled, the next direction of operation will be clarified.

The current range of 1083-1079 is a key area that needs to be closely monitored. As long as the market can stabilize in this zone, if an effective upward trend can truly form later, it would be more prudent to look towards the rebound space of 1105-1111.