Today, the Bitcoin market shows a step-like rising trend, with the price gradually climbing from $104,600 to a peak of $105,800. However, it was quickly affected by short-term pressure, falling back to around $104,800, and currently maintains a narrow fluctuation within that range.

The intraday market shows that although Bitcoin is trying to break through the previous high, the subsequent momentum is insufficient, and the current fluctuation range has not yet been broken. From the hourly Bollinger Bands perspective, the channel opening continues to expand upwards, reflecting a significant increase in short-term market volatility. However, strong resistance is formed near $105,800 on the upper band, and the opening pattern further indicates that the competition between bulls and bears is becoming increasingly intense.

From the analysis of the four-hour cycle trend, Bitcoin has successfully broken through the downward trend line and has risen strongly, firmly standing above the important psychological level of 103,000 dollars, indicating that the market selling pressure has been fully released. However, there is still significant resistance at the 106,000 dollar level, which is the key resistance point for the current market.

From a technical perspective, Bitcoin may encounter resistance near $105,700-$106,000, with support levels around $104,300-$103,400. If it breaks below, it may further drop to $101,000. As for Ethereum, it might face resistance around $2,440-$2,480, with support levels around $2,380-$2,350.

Overall, although Bitcoin has recently shown a rise, whether it can break through the 106,000 USD level will be a key factor in determining the short-term trend. Investors should closely monitor the breakout situation at this level while being wary of potential pullback risks.