#BTC# #ETH# #sol# #xrp# #PI# The Bitcoin market is currently facing an important test at the $110,000 level. Looking back at today's market, the shorting strategy predicted earlier at $109,300 has shown results, with the price hitting a low of $108,600. However, this is not the final target, and investors still need to closely follow the subsequent trends.

Currently, the pressure above $110,000 on the 4-hour chart still exists, restricting short-term upward space. Bitcoin is currently reported at around $108,900, and the market shows a relatively balanced state of bullish and bearish forces. It is worth noting that the upward momentum is gradually weakening, which may indicate that a significant pullback is about to come.
From a technical perspective, the shorting position at $109,300 is still worth maintaining. We are looking at the next key support level at $107,000. If a strong breakout occurs during the US trading session, further decline to $105,000 cannot be ruled out.
Investors need to stay vigilant and closely follow market changes. The current Bitcoin price is at a critical position, facing upward pressure as well as downside risks. In this uncertain market environment, risk management is particularly important. Whether bullish or shorting, reasonable stop-loss levels should be set to cope with possible severe fluctuations.
Overall, the Bitcoin market is at a critical turning point. Investors need to comprehensively consider technical aspects, fundamentals, and macroeconomic factors to make prudent investment decisions. In this rapidly changing cryptocurrency market, it is crucial to remain calm and rational.