This morning, the price of BTC briefly touched 107,500 and then fell back. Why did this kind of situation occur where it fell back after reaching the resistance level?

Key support and resistance level analysis
Bitcoin currently has several key support and resistance levels worth noting. First, 100,000 is the most important support level, which is not only a significant psychological barrier but also holds great significance at the technical level. 102,300 US dollars is the first support level, coinciding with the settlement price and having multiple confirmations, further highlighting its importance. The support levels on Monday are 94,500 - 94,120 US dollars, and if Bitcoin falls below the key support level of 100,000, it is likely to fall directly to this position.
In terms of the resistance level, the upward resistance level is at 107,500 and 110,000,
Trading strategy recommendations
Based on the above price analysis, caution is needed in trading strategies. It is not recommended to buy at high levels at the moment due to high risks. If the price retraces to the support level around $102,300, long positions can be considered. However, if it falls below the important support level of $100,000, it is necessary to switch to a bearish view with a target of $94,120. If Bitcoin can break through $107,000 and hold steady, long positions can be considered, but it is recommended to wait for a retracement to the equilibrium area before entering a position, instead of acting impulsively at the current high levels. Overall market trends and influencing factors.
Overall, the current view on Bitcoin is bullish. Looking at different time frames such as daily, weekly, and monthly, they all show an upward trend, so it's not a market environment to see a fall at the moment. However, we should not be complacent and remain vigilant about possible pullbacks. After all, important information such as retail sales data, building permits, and the FOMC interest rate decision will be announced in the United States this week, all of which could bring volatility to the Bitcoin market and affect its price trend. #BTC再创新高，后续行情走势如何？