The price movement of Bitcoin shows obvious oscillation characteristics, with longer forces attempting to break upwards multiple times. However, each time it approaches an important resistance level, it encounters significant selling pressure, resulting in insufficient breakout momentum. Meanwhile, the downward pressure is weakening, and the risk of falling below important support levels in the short term is relatively low.

From a technical perspective, BTC is highly likely to continue its high-level range oscillation. The current price pullback should be viewed as a normal correction process within the upward trend, and the possibility of a complete trend reversal is low. The market is likely to maintain an oscillating upward trend.

For short-term trading strategies, consider establishing long positions in the range of 104000-104500, with a target price around 106000.