#加密市场回调 Early this morning, the Bitcoin market experienced a sharp decline again, which was completely expected. After breaking below the $110,000 support level, it found temporary support near the daily chart MA 200 and rebounded, but the strength of this rebound is limited, and upward pressure remains evident. Currently, the middle band of the Bollinger Bands is trending downward, indicating that the market adjustment cycle has not yet ended.

From a technical perspective, the $110,000 support level as the first line of defense has been broken. Next, attention should be given to the support levels at $108,100 and even $105,000. If Bitcoin can stabilize above the MA 200, it may be more prudent to consider long positions.

Technical indicators show that the short positions still dominate. The current rebound appears more like a brief respite rather than a trend reversal signal. In this market condition, a safer strategy is to seize rebound opportunities for shorting, while waiting for clear support confirmation before considering long positions.

Personal trading strategy suggestions:

- Consider light positions for shorting around $112,000, with a stop-loss set above $113,500, and initially target $110,000.
- If the downtrend continues, pay further attention to the performance in the $109,200 - $108,800 region.
- For investors interested in long positions, it is recommended to wait until the price forms confirmed support near $109,200 before attempting, with a stop-loss below $108,000.

The current market is still in a bottoming phase, and overly aggressive strategies are not advisable. Sometimes, instead of watching the market closely and guessing for a long time, it’s better to patiently wait for the market to give a clear direction.