Sunday Afternoon Bitcoin and Ethereum Market Analysis and Trading Suggestions
Review of This Week's Market: Bitcoin surged to the 110,000 mark at the beginning of the week but then entered a sideways adjustment. After several failed attempts to break higher, it began a significant pullback on Thursday. Although there were occasional positive news, the rebound was weak. After a brief spike early Friday morning, it continued to decline, touching 102,614 before rebounding. The weekend showed a range-bound fluctuation pattern, with Saturday's high at 106,173 and low at 104,200; on Sunday, it oscillated upward and returned above 106,000 before slightly pulling back.
Current Pattern and Outlook: The weekly chart is likely to close with a doji candlestick, indicating unclear market direction. After a significant pullback, the weekend's fluctuations absorbed some momentum. Currently, it is in a narrow range of oscillation, with bulls and bears repeatedly contesting at key levels (such as the upper and lower bands on the hourly chart) (for example, rebounding quickly after dipping to 104,200 in the early morning). Short-term bearish sentiment dominates, with 106,500 acting as strong resistance above.
From a daily perspective, it maintains a wide-ranging fluctuation pattern. The Bollinger Bands show a downward trend, with pressure still present. However, if the rebound fails to effectively challenge the mid-band, the focus for the day will be on repairing the upper shadow line. On the four-hour level, it remains oscillating in the short term, with limited continuity for both bulls and bears. The pullback has formed an almost parallel low point structure, indicating that the support level is gradually rising, which is a positive bullish technical signal. The technical indicators show a unified upward repair trend, suggesting that short-term bullish forces have a slight advantage. Close attention should be paid to the support strength in the 105,500-105,200 area. If this area can hold firm, it is expected to maintain a strong oscillating trend; if it breaks, it may test the support near 104,000 again.
Subsequent Short-Term Layout:
Bitcoin's short-term consolidation range is 106,500-104,000, with short-term Bitcoin referring to a long position near 105,000, targeting 106,500. If it breaks, look for 107,500.
Ethereum is expected to be around 2,500, targeting 2,600.
