The Bitcoin market has recently shown fascinating dynamics. From a Technical Analysis perspective, the 4-hour trend is particularly noteworthy. The expected short positions pattern conversion did not occur as anticipated, which has brought new considerations for market participants.

The key price level of $104,888 has clearly played an important role. It is not only a potential entry point but also an important indicator for determining market direction. While some traders may feel regret for not being able to accurately grasp this price level, it precisely reflects the high uncertainty and challenges of the cryptocurrency market.

Currently, the market's focus has shifted to the new support level of $108,600. The performance at this price point will determine whether Bitcoin continues to rise or begins a correction in the short term. If this support can be maintained, we may see further upward momentum. However, if the price falls below this level, especially if it remains below this price point at today's 8 PM close, then market sentiment may turn cautious.

In this case, $107,388 will become the next important support level. Investors and traders should closely monitor the performance of these key price levels to timely adjust their strategies.

It is worth noting that Ethereum (ETH), as the second largest cryptocurrency in the market, is also worth paying attention to. Generally, the trend of ETH has a certain correlation with BTC, but it may also exhibit independent market behavior.

Overall, the current market conditions require participants to remain highly vigilant and be ready to respond to various scenarios that may arise. Whether bullish or bearish, precise Technical Analysis and risk management are the keys to success. In this market full of opportunities and challenges, maintaining calm and rationality is crucial.