According to the current market data analysis, Bitcoin's morning price rose to the 109684 level before encountering resistance and falling back. Although there was another attempt at a rally during the afternoon session, it still failed to effectively break through the 110000 key resistance level. Under this pressure, the price shows a clear pullback trend, indicating strong selling pressure above. The market is currently in a technical adjustment phase, needing to confirm support through a pullback and complete bottom consolidation before it can accumulate enough momentum to challenge new highs. As long as the price remains above the previous key support level, the logic of the long positions trend still holds, and the pullback is a good opportunity to position for longs.