The current Bitcoin price movement is showing a downward trend, expected to test the 100,000 support level and may further break through.

Currently, there are two possible price movement paths in the market:

The first scenario is that the price directly breaks through the lower support and then accelerates downwards; the second scenario is that the price first shows a technical rebound, returns to the upper edge of the convergence range, and then resumes the downward trend.

From an overall operational strategy perspective, the market atmosphere is leaning towards bearish. My personal analysis is more inclined towards the first scenario, which is a direct downward price movement. At the current position, a light short selling strategy can be considered, with the stop-loss level suggested to be set above the 105800 point area.

The key target price level to watch is 103000. If this level is broken, the next observation target will be 101000 points.