Recently, there have been interesting changes in the Bitcoin market. Around $104,200, the 4-hour Candlestick Chart shows possible bottom pattern characteristics, while the KDJ technical indicator has entered the Oversold territory. These signals collectively indicate that the likelihood of a Rebound in the short term is increasing.

From the market dynamics, the current selling pressure seems to be nearing exhaustion. If the bears continue to exert downward pressure, they may find themselves in an unfavorable situation, as the technical indicators have created conditions for a price rebound.

However, investors need to maintain a cautious attitude. There are a large number of sell orders waiting to be released in the $105,500 area, and this resistance level acts like a high-pressure barrier. If the price cannot firmly stay above this level, the current rebound may only be a fleeting moment.

Although the MACD indicator shows signs of shortening green bars, trading volume remains sluggish, indicating that most market participants are still in a wait-and-see attitude, with both bulls and bears waiting for a clearer direction.

It is worth noting that the Exponential Moving Average ( EMA ) still maintains a bearish arrangement, with the short-term moving averages located below the long-term moving averages, indicating that the overall trend has not fully turned in a positive direction.

In addition, the current market sensitivity is extremely high, and any policy signal from the Federal Reserve could trigger significant volatility. Investors should not only focus on technical indicators but also closely monitor macroeconomic sentiment and market leverage conditions.

Overall, market opportunities always favor disciplined investors; rational decision-making outweighs impulsive actions. The future development of Bitcoin will depend on the combined effects of multiple factors, and investors should remain vigilant and adjust their strategies flexibly according to market changes.