The morning Bitcoin rebounded to the 103820 line, faced pressure and fell back, showing a step-like oscillation downward characteristic. Ethereum is synchronized with Bitcoin's trend, retreating from the high of 2646, with a lowest drop to the 2562 line, forming a short-term technical bottom. From a technical analysis perspective, Bitcoin's price has been oscillating between key support and resistance levels, forming a clear consolidation range. Recently, the price has been oscillating at a high level, and combined with the four-hour Bollinger Bands, the current price is operating below the middle band, with both long and short forces being relatively balanced. Recently, the price has failed to break through the high point, and the low point has not significantly risen, indicating that the market trend is unclear. In the short term, there is a downward risk in the market, specifically manifested as the emergence of a top splitting pattern, while the upper Bollinger Band forms short-term resistance. Without a strong breakthrough, the market may continue to consolidate or slightly correct in the short term. The upper resistance is in the range of 104800-105800, while the lower support is in the range of 101600-100800.
Ethereum's price has also significantly retreated after a series of highs. The price has been operating above the middle band of the Bollinger Bands, with short-term support currently in the range of 2540-60, showing no obvious continuation of a downward trend. If the price can effectively hold, it may rise again. If it breaks through limited levels, the price may reach the next support level in the range of 2400-2440, with upper pressure at 2680-2720.
