Technical analysis of Bitcoin on Saturday morning

From the 4-hour chart observation, the Bitcoin price is currently in a low-level consolidation phase after a downward fluctuation. Previously, the price surged to a high of 110,530 dollars, and then bearish forces took control, leading to a continuous decline in price, reaching a low of 102,664 dollars.

The market is currently in a low-level consolidation phase, with both bulls and bears repeatedly battling in the range of $104,000 to $106,000. The candlestick chart shows an alternating pattern of bullish and bearish candles, reflecting a current short-term balance of power between the two sides. In terms of technical indicators, the KDJ three lines have formed a golden cross at a low level and are diverging upwards, which typically indicates that there may be a rebound momentum in the short term.

In summary, although there are signs of a short-term rebound in the market, the overall trend is still influenced by a bearish trend. It is important to pay close attention to the effectiveness of the lower support level going forward. If the price continues to fall below the lower track, the bearish trend is likely to continue; conversely, if it can stabilize and break through the middle track resistance, the bulls may have a chance for a counterattack.

Today's morning trading suggestion: consider shorting in the 1063-1065 range, with a target of the 105000 range. The market environment still requires caution and proper risk management.