The market trend over the weekend has slowed down significantly, with the cryptocurrency price gradually rising in the morning to break through the 106,000 mark but failing to stabilize, instead falling back. The price has once again retreated by over 1,300 points, touching the low of 104,738. The range we provided in the early morning regarding the long position at the 106,000 mark has successfully closed in profit. The trend of Ethereum is basically the same as Bitcoin, rising to around 2,582 in the morning before the price began to continuously retract and consolidate. The intraday low reached around 2,524.

From the daily technical analysis, Bitcoin is currently in a typical medium-term downward oscillation channel. The candlestick combination shows obvious bearish characteristics, with the MA5 and MA10 moving averages forming a death cross and continuing to diverge downward. The MACD indicator remains weak below the zero axis, and there are no clear signs of convergence between the DIF and DEA lines. Particularly crucial is that the current price is continuously pressured below the middle line of the Bollinger Bands, which fully confirms that the medium-term trend in the market is strongly suppressed by bearish forces. Observing the 4-hour chart, we can find that the short-term trend displays distinctly different technical characteristics. The candlesticks have continuously formed several bullish candles, the MACD green momentum bars continue to expand and break through the zero-axis pressure, and the Bollinger Bands have clearly widened while the price is closely attached to the upper band. The excessive deviation of the candlesticks from the upper band also suggests that short-term profit-taking pressure is accumulating. For the day, we will first focus on the rebound, while still anticipating a retracement. It can be treated as a range-bound dynamics. #BTC走势分析