It's Wednesday, and the Bitcoin market is showing signs of weakness. Last night, Bitcoin briefly found support at $108,000 and rebounded slightly, but failed to break through the resistance level at $109,000, ultimately forming a narrow range of fluctuations around $108,900.

The market currently shows obvious signs of weakness. Trading volume continues to shrink, reflecting insufficient buying power. From a technical perspective, the flattening of moving averages on the 4-hour chart exerts pressure on prices, while the MACD indicator shows lack of momentum, and the RSI indicator remains in the weak range below 50.

If Bitcoin cannot strongly break through the resistance range of $109,000-$109,500, it is likely to test the support level of $108,000 again. If this support level is broken, the price may further drop to the range of $107,500-$107,000.

Ethereum is also facing downward pressure, currently hovering around $2630. If it cannot break through the upper resistance, it may retreat to around $2580.

Investors should closely monitor market trends and operate cautiously. In the current weak market, breaking through key resistance levels or support levels may trigger significant price fluctuations. At the same time, attention should also be paid to the potential impact of external factors on the cryptocurrency market, such as changes in regulatory policies or the global economic situation.