The price of Bitcoin (BTC) is currently hovering around $111,100, slightly below the middle band of the Bollinger Bands. From a Technical Analysis perspective, BTC rebounded after touching the lower band of the Bollinger Bands, and the Bollinger Bands are showing a slight expansion after a contraction, which may indicate that market volatility will increase in the short term.

If BTC can firmly stand above the middle band and challenge the upper band upward, then the current upward trend is likely to continue. However, if the price falls back near the lower band of the Bollinger Bands, investors need to be wary of the potential retracement risk.

From the Relative Strength Index (RSI) perspective, the current value hovers around 50, indicating a generally neutral to strong state, and has not yet entered the overbought zone. This suggests that the upward momentum has not been completely exhausted in the short term, but at the same time, no clear trend has been established. The three lines of the Stochastic Indicator (KDJ) show a golden cross signal, which may imply that the market will continue to maintain a rebound trend in the short term.

Overall, BTC may show a fluctuating upward trend in the short term. Investors need to closely monitor whether BTC can stabilize above the middle band of the Bollinger Bands and break through the pressure of the upper band. If the trading volume is insufficient or encounters strong selling pressure, BTC may continue to fluctuate within a certain range.

It is worth noting that there are signs in the market indicating that some long-term holders of Bitcoin are gradually reducing their positions, which may have some impact on the market. Investors should comprehensively consider both Technical Analysis and fundamental factors when making investment decisions and keep an eye on market dynamics.