11.7 Morning BTC Market Analysis:

Yesterday, Bitcoin continued its sideways and slightly weak trend. After encountering resistance above 104,000, the price was rejected and then fell back to the 100,000 level, with a relatively sharp short-term correction. Market data shows continuous outflows of major funds, and investor sentiment remains cautious. The overall atmosphere is predominantly wait-and-see.

From the daily chart perspective, recent price action has been oscillating between the middle and lower bands of the Bollinger Bands. The narrowing of the bands suggests the market may be entering a consolidation phase. The MACD remains in a bearish crossover, indicating continued dominance of the downtrend; RSI hovers around 40, showing that bullish momentum has yet to emerge. Overall, the market remains in a weak, oscillating state.

Trading suggestion: Consider setting buy orders around 102,300 and 102,800.