This week's summary: After reaching a recent high around the 105863 level on Monday, both bulls and bears engaged in a prolonged fierce battle. Currently, the market remains in a phase of oscillation, adjustment, and repair, building momentum for future breakouts. Ethereum rose to around the 2738 high in the early part of this week, but overall, it has hovered around the 2500 level, never retracing below the strong support level of 2400.
On the daily chart, we can clearly see that the market is in a state of wide horizontal consolidation. The oscillating market conditions are not very pronounced yet, but when switching to the four-hour chart, the oscillating behavior becomes particularly evident. As time goes on, the oscillation range is continuously narrowing, and the amplitude of fluctuations within the week is gradually decreasing, with multiple attempts to break the lower boundary to test the strength of the support below. The trend shows strong continuity. The upper side faces strong resistance at 105500. Although there were brief breakouts earlier, they did not last long. With the continuous rise of short-term support levels, a short-term triangle convergence structure is gradually forming. After intense competition between bulls and bears, next week will undoubtedly be a key battle for both sides. From a social perspective, the easing of tax pressures has somewhat alleviated the international financial tension, which has filled the market's fundamentals with many unknown variables. We all know that heroes emerge in chaotic times; in this turbulent situation, we need to seize opportunities. Opportunities are for those who are prepared, provided they have the ability to capitalize on them, making good plans and strategies to give the greatest importance to opportunities.
In ambiguous market conditions, we should maintain an optimistic and calm mindset, as this is a crucial factor for showcasing our talents. In terms of the overall trend, we remain firmly bullish; Bitcoin is expected to break above 11000, and Ethereum is expected to break above 3000. This is not blind confidence but a conclusion drawn from a deep understanding of the market.
