Recently, the market has shown obvious characteristics of range oscillation, exhibiting a fluctuating trend for two consecutive days. The upper limit of the range is gradually moving down, while the lower limit is slowly rising, forming a contracting triangle pattern. The breakout direction of this contracting range often determines the development trend of subsequent movements.

The midday market first broke through the range upwards, continued to rise and tested the resistance above successfully, but then encountered strong resistance from a triple pressure level (similar to the previous 108900 point which also faced a triple pressure level). Triple pressure levels have always been difficult to break through, so the evening market began to move down directly from the 106100 point.

After the evening market broke through important support, the trading volume significantly increased and continued to weaken. Although influenced by fundamental factors, this did not change the development direction of the technical trend. The price has consecutively broken through three important support levels: the daily low, the previous volume low of 103300, and the 102600 level. This has formed a trend characteristic of "threefold pressure holding followed by breaking through threefold support."

The current trend has strong continuity, and although it may break below the 100,000 integer level, considering the approaching weekend, the market is likely to enter a range-bound fluctuation mode. It is recommended to first focus on the range trend and adjust specific strategies after the market opens next week.

The current upper limit of the range to watch is around 104300, while the lower limit is around 101800. Bitcoin may seek direction within this range in the short term.