The current Bitcoin market is showing a temporary stagnation of the long positions trend, but it is worth noting that this does not mean that the pump trend has ended, and the market has not yet entered a short positions cycle.

From the daily chart, the price channel continues to maintain a slow upward trend, indicating that going short too early is not a wise choice.

In the short term, if Bitcoin can stabilize above $105,000 within the 1-hour or 2-hour time frame, the hourly trend is likely to continue showing a long positions rebound pattern. In this case, the price may successively challenge the key resistance levels of $106,300, $107,000, and $107,800. Market participants should closely monitor the price reaction at these levels to assess whether the rise momentum can be sustained.