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Last night, BTC's movement was quite exciting. It first retreated to 106,500 and then started to fluctuate downward. When the US stock market opened, it dropped even more sharply. Although the S&P 500 performed relatively well with a low open and a rebound, BTC was not convinced, breaking through several support levels and heading straight to 102,400.
This morning, the chart shows a slight upward movement. That trend line has been tested three times already, indicating a potential bottoming pattern from a technical perspective. However, the bulls still lack the momentum. I personally think it's better to wait and see if the bulls can really gather strength before entering the market. The resistance levels above are not to be taken lightly; if they are not broken decisively, a pullback is almost inevitable.