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Bitcoin was stuck around the 110,000 mark during the early hours of Monday, repeatedly oscillating. After several attempts to break through the resistance at this level, it failed to form an effective breakout. When pulling back, it also received some support, showing no obvious signs of a breakdown. This constrained movement reflects the increasing divergence between bulls and bears at this critical price point—while the bulls are willing to push the price upward, they lack sufficient capital momentum to support it; the bears are trying to suppress the price downward but are also struggling to break the existing support line, resulting in a more pronounced stalemate. The short-term support is focused on the 108,500 line below, and attention should be paid to the breakthrough of this support and the 111,500 high during the day. The four-hour chart frequently shows wicks, indicating that the bears have significantly diminished their momentum after a prolonged slow decline, combined with strong support levels, repeatedly forming a bottom without breaking down, suggesting that the market is likely to experience a bullish adjustment.