Despite the pullback in the early morning market, Bitcoin is showing clear signs of stabilizing at the key support area of 106500. The current consolidation around 107500 can be seen as the market gaining buying support at this important psychological level, with long positions gathering strength again, providing a solid technical foundation for the subsequent rebound.

From a short-term technical perspective, momentum divergence and other rebound signals have appeared on the small cycle chart, indicating that the downward momentum is weakening. This pullback can be interpreted as a healthy consolidation aimed at clearing out weak positions and building strength for another upward move in the future. If the price can effectively break through the short-term resistance zone of 108200-108500, it will confirm the end of the pullback and restart the upward trend.
Therefore, as long as the price can firmly hold the 106500 defense line, the overall technical structure remains optimistic. The market is expected to rely on this support and launch another attack towards the 109000 and even 110000 integer levels.

Bitcoin strategy: Buy around 107000, target 109000
Ethereum strategy: Buy around 3755, target 3850