Today's BTC review and analysis

In the early hours of today, BTC plummeted 5% from around 107,000, reaching a low of 102,600, and then weakly consolidated in the range of 103,000-106,000.
The technical indicators show that there have been three consecutive bearish daily candles, breaking below the key neckline at 106,800. The MACD has formed a second death cross. If BTC breaks below the weekly support at 103,000, it may form a "bearish continuation" pattern, further probing down to 101,500 or even 98,900.
News: The escalation of geopolitical conflicts in the Middle East has led to an increase in market risk aversion, combined with the Federal Reserve's delay in interest rate cuts, resulting in short-term capital outflow risks from risk assets.
As of now, BTC and Ethereum are in a state of oversold rebound. BTC has broken through the hourly mid-level, and a long lower shadow has appeared on the daily level, indicating signs of a potential trend reversal. If it can break and stabilize above 105750 to 106000, the reversal will be confirmed.