Bitcoin has recently experienced some notable price fluctuations. After falling below the 110,000 yuan mark, the market began to attempt a rebound. Yesterday, the price briefly touched around 109,900 yuan, followed by some ups and downs, dipping to a low of about 107,000 yuan. This morning, the price again fell below the 110,000 yuan level, catching many investors off guard with this series of fluctuations.

Currently, the market is closely watching the key support level of 108900 yuan. If the price can stabilize above this level tonight, we may see further upward momentum, with potential target levels including around 110900, 111500, and 112600 yuan. In this scenario, investors who previously shorted may face greater pressure.

However, if the price falls below the support level of 108900 yuan and shows a downward trend on the hourly timeframe, we need to be cautious of a possible further dip. In this case, the next support levels to watch will be around 108300, 107500, and 106500 yuan.

The current market environment is filled with uncertainty, and investors need to remain vigilant, closely monitoring price trends and key technical levels. Whether going long or short, a clear risk management strategy should be formulated to cope with potential drastic fluctuations.

Whether the cryptocurrency market can break through the current fluctuation pattern in September remains an unresolved question. Investors should stay rational, avoid blindly chasing prices or cutting losses, and also be prepared for various possibilities. In this rapidly changing market, timely adjustments to strategies and maintaining flexibility will be the key to success.