The Bitcoin market is facing a significant challenge from Germany. 3000 Bitcoins are about to be sold, putting enormous pressure on the market. Currently, the price is hovering near the upper band of the Bollinger Bands, which is a critical moment.

From a technical perspective, $108,952 has become the dividing line for bullish and bearish forces. If the price falls below $106,683, the market may face a larger decline, potentially testing the support level of $102,307.

Currently, the bullish forces seem to have weakened. The upper band of the Bollinger Bands at $109,467.89 and the Fibonacci retracement level at $108,952.38 form a double resistance. Although the MACD indicator shows a golden cross, the length of the red bars is 722.96, indicating that the upward momentum may not be strong enough.

For the bears, if the price breaks below $106,683.47, it could trigger a chain reaction. $104,844.97 is a key line of life and death, and if this level is breached, the price is likely to continue falling to $102,307.41.

The main market funds seem to be on the sidelines. Buying interest has emerged around $98,200, but overall trading volume is shrinking, as large funds may be waiting for a clear market direction.

For investors in different positions, it is recommended to adopt different strategies:
1. Investors who are trapped above $108,500 may consider reducing their positions by 50% in the range of $108,200-$108,600, and setting a stop loss at $106,683.47 for the remaining positions.
2. Investors trapped around $107,000 can reduce their position by 30% when the price falls below $106,683.47, and consider adding to their position around $104,844.97.

Regardless of the strategy taken, setting a trailing stop loss is essential. Conservative investors can set a stop loss at $105,000, while aggressive investors can set a stop loss at $104,500 and consider buying the dip around $98,200.

The current market situation is akin to the sultry weather before a torrential rain, with both technical and news indicators suggesting a potential turning point. Investors need to closely monitor market trends and adjust their strategies in a timely manner. Only when the price breaks above $108,952.38 should they consider chasing the rise.

In this market full of uncertainty, it is crucial to remain vigilant and rational. Every investment decision should be based on detailed analysis and individual risk tolerance.