Recently, the Bitcoin market has shown a complex trend. After two days of sideways consolidation, the BTC price began to show a rise in the afternoon today, reaching a maximum of $108498, demonstrating certain pump momentum.

From a technical perspective, the Bollinger Bands on the four-hour level are starting to contract, and the daily chart is also stabilizing, which may indicate that the market is about to undergo new changes. Currently, investors need to closely monitor the key resistance level at $109200, while also paying attention to the support level at $104800. These two price points may become important reference points for determining the trend in the short term.

For trading strategies, market participants seem to favor the operation mode of selling at high levels and buying at low levels. In particular, there may be short-selling opportunities around the $108,500 mark, with a target price set at approximately $107,000. If it breaks downwards, it may even test the level of $106,500.

However, we cannot ignore the uncertainty of the market. Bitcoin, as a highly volatile asset, often experiences price movements influenced by various factors, including but not limited to the global macroeconomic environment, changes in regulatory policies, and the behavior of institutional investors. Therefore, investors need to comprehensively consider all aspects when formulating trading strategies and remain vigilant at all times.

Overall, the current Bitcoin market is in a critical period. Although it may continue to oscillate within a narrow range in the short term, any unexpected events or important news could trigger rapid changes in the market. For investors, while seizing potential opportunities, it is also essential to manage risks to avoid losses due to excessive speculation.