Yesterday, BTC had a peak of 104949.2 points, closing at 103461.4 points, with an amplitude of 2.10% and a decline of 0.17%. The market was mainly sideways at high levels yesterday, with the closing price below the 5-day average. In the medium to long term, the bearish forces are dominant. As of the market opening, there were 52 rising projects and 533 falling projects, indicating an overall very weak market data.

Yesterday's analysis indicated that BTC formed a 3-hour sideways divergence structure, with strong resistance at 110,000 above. If a strong daily top pattern is formed, it will lead to a deep pullback and fall, making it inadvisable to go long at this time. From today's market data, BTC has indeed fallen and broken below the 30-minute 233 moving average, indicating a short-term bearish trend. If tonight or tomorrow's daily K-line closes and forms a daily top pattern, it can almost be determined that the daily chart has temporarily completed a top structure. This may trigger a fall in altcoin markets and could even lead to a bear market, which is the worst-case scenario, but it's essential to be extra cautious of this situation.