Analysts had already predicted the current market trend, and the weekly trend has developed as expected—first there were higher trade volumes at the beginning of the week, followed by range fluctuations. After the release of CPI data, prices continued to decline, the Middle Eastern market had consecutive Bearish lines, and then it turned again, operating within the expected range.

From a technical point of view, the BTC daily chart has returned to the Bollinger Bands after breaking away from the original trend and completed a multi-cycle oscillation. It is worth noting that the middle band of the Bollinger Bands is still on a downward trend, indicating that the overall structure is weak. In terms of indicators, both MACD and KDJ are in a state of continuing to decline after a dead fork, suggesting that the weak market may continue. On the higher-level timeframe, technical indicators such as MACD, KDJ, volume and Bollinger bands also point to weakness, some have formed a dead cross, and some are converging in the direction of a dead cross.

In summary, the overall direction still leans towards a downward trend, and it is expected to test the range of 106000 to 106500 in the afternoon, with attention needed on the support level around 102600. The market may continue to face adjustment pressure in the short term, and investors are advised to maintain a cautious attitude.