The midday market for Bitcoin has indeed not been very favorable. After taking some profits from the short position in the morning, I initially wanted to enter a long position at a low point to catch a rebound, but things did not go as planned. The market continued to decline, reaching a low around 103200, and our long position was severely trapped. We have currently notified to average down at low levels and continue holding with a bullish outlook.

From the hourly perspective, the price is adhering to the lower Bollinger Band and is showing a downtrend with consecutive red candles. However, the trading volume has not formed a significant increase. The market is showing signs of stabilization, and chasing the market deeply at this time carries considerable risk. Additionally, from the daily perspective, the market retracement did not extend after touching the 7-day moving average. We still expect a rebound for recovery, so we can continue to buy at lower levels.

Bitcoin: 103100~103400 long, target 105000.

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