In the early hours of yesterday, the market showed a strong consolidation pattern, with bearish momentum significantly weakening, failing to dominate price declines again, and overall presenting a narrow sideways range. This sideways oscillation, which exchanges time for space, is actually a manifestation of the market undergoing a strong correction at high levels. The price of Bitcoin fluctuated around 103,000, while Ethereum was also caught in a consolidation accumulation phase, quickly stabilizing after hitting a low of 2,582 in the early hours, with the current price around 2,600. Market volatility has significantly narrowed, and trading activity has temporarily retreated.

From the daily technical analysis perspective, the current market is in a consolidation cycle. Yesterday's candlestick formed a small bearish line, but with a long lower shadow, indicating strong buying power below. The Bollinger Bands are gradually flattening, suggesting that the market is entering a phase of adjustment and accumulation. It is worth noting that over the past three trading days, candlesticks have frequently shown long lower shadows, alternating between bullish and bearish lines, with each subsequent low point rising. This series of signals indicates that the bulls have the upper hand in the tug-of-war between bulls and bears, making it difficult for bears to form a sustained downward trend. The market's ability to recover lost ground is quite strong. Switching to a four-hour chart, after experiencing two short bearish candlesticks, the price quickly rebounded, with support levels clearly moving higher, indicating that buying power below is strengthening. Overall, Bitcoin is likely to continue its oscillating upward rhythm, seeking breakthroughs after sufficient accumulation. In terms of short-term operations, it is expected that the price may first experience a slight pullback, followed by a renewed accumulation of upward momentum to challenge the upper pressure levels.

Bitcoin can be bought between 102,500 - 103,000, targeting around 104,500; Ethereum can be bought between 2,550 - 2,580, targeting around 2,700. #BTC $BTC