Currently, the price ratio of Bitcoin is fluctuating around the central zone of 107000. From a technical analysis framework, the four-hour K-line structure shows that the price ratio has effectively broken below the support level of the BOLL middle track, forming a bearish pattern confirmation, and is currently in the process of testing support at the lower track of the channel; at the same time, the KDJ indicator shows a diverging downward movement with three lines, and the MACD indicator's red bars continue to expand, with the bearish momentum bars significantly increasing below the zero axis, indicating that the medium-term downward trend is strengthening. Switching to the one-hour K-line level, the price ratio triggered a technical rebound after reaching the BOLL lower track, and the channel width has started to converge, suggesting that there may be a correction demand in the short term. However, the KDJ indicator still maintains a death cross downward pattern, indicating that the dominant power of the bulls has not yet been fully released. Based on the comprehensive multi-period technical signal analysis, it is recommended to rely on the price ratio rebound to the key resistance level during the early trading period, but be mindful to set reasonable stop-loss to control risks.