Wednesday, good morning on a new day!

Yesterday, the price of Bitcoin continued to rise, reaching the 108300 level before undergoing a pullback adjustment. After a sharp drop to the 105200 level overnight, it has somewhat stabilized, but the rebound is not strong, currently operating around the 105800 level. After the price surged, many traders took profits, leading to a decline in the price, with a short-term weak bias.

From the daily chart, the K-line has closed positively for four consecutive days, showing a steady climbing trend. After rising, it has consolidated before breaking upward again, continuously refreshing highs, with a very clear rhythm. However, after yesterday's surge, it quickly retraced, causing a pause in the traders' rhythm. In the short term, it may enter a phase of consolidation. The current strong resistance is at the 108000 level, while short-term support is near 105000. As long as it does not break below this level on a pullback, the trend structure will remain unchanged. In the short-term 4-hour chart, Bitcoin is currently in a phase of high and low fluctuations, just touching the support near 105000 before rebounding again. This is where short-term support can be observed; no deep pullback discussions unless it breaks. Although the strong rhythm has been interrupted, the trend remains unchanged. A pullback is an opportunity to enter. It is expected that there will be further upward movements. In terms of operations, focus on low longs. If it shows signs of pressure when going up, then consider shorting again.

On Wednesday morning, consider a light long position near 105000 for Bitcoin. If it sees 104500, increase the position and look for a rebound in the 107500-108000 area. If it faces pressure, then look for adjustments. In the short term, it may oscillate back and forth within a range, and a significant one-sided move is not expected. Focus on short-term trading within the reference range.