Bitcoin Analysis and StrategiesBitcoin / U.S. dollarBITSTAMP:BTCUSDHenry_MatthewYesterday, Monday, the market opened with an initial upward move, reaching a high of 106.6k before pulling back. During the US session, it bottomed at 104.6k before rebounding, ultimately closing around 106k, forming a consecutive bullish pattern on the daily chart. Today, it opened higher, reaching around 107.5k. Currently, the daily chart shows three consecutive positive days, which is indeed quite good considering the overall upward trend. However, we cannot ignore the weakness on the weekly chart, nor can we ignore Tuesday's usual decline. The decline in the past few days has created a lot of resistance. Now, the bulls are constantly making new highs, so we need to continue to look for new resistance. Today, we should focus on the 110k-110.5k area. On the first touch, we can consider a small short position to profit from a short-term downward move. Yesterday, the price tested 104.6k multiple times and rebounded. This point was also the highest point of the first rebound since the 99k decline. At that time, the starting point of the new round of decline was 104.5k. The subsequent breakout formed a top-to-bottom reversal. Firstly, the four-hour chart closed relatively weakly. For today, if the price turns downward again, I think the 104.8k-105.8k points are likely to form support and lead to a rebound. However, the specific point will depend on the real-time dynamics of the four-hour and hourly charts.