Market Update: 🔥🔥🔥
Bitcoin: The price is oscillating downwards, with 110,000 as a strong resistance level.
Bitcoin: After dipping to 108,000 and rebounding to 109,760, it drops again. There have been five consecutive bearish candles on the four-hour chart + long wicks indicating volatility. Watch for support at 107,000/106,000 after the hourly chart breaks the range and plunges.
Ethereum: Following Bitcoin, with smaller fluctuations and weak liquidity.
Technical Analysis:
The four-hour indicators are generally pointing downwards, with significant short-term downward pressure.
The hourly chart shows a downward trend across all three bands, with lower rebound peaks, oscillating around the middle and lower bands.
Short-term Strategy:
Bitcoin: Buy at 108,000 (target 109,500); may try to short at resistance levels.
Ethereum: Buy at 2,530 (target 2,580); set up short positions at high levels.
Risk Warning: The oscillating market has intense long-short battles; strictly implement stop-losses!
