As the weekly closing of Bitcoin approaches, long and short signals intertwine

The weekly closing of Bitcoin is nearing, and the technical indicators are signaling risk: after a bearish engulfing pattern, a series of doji candles appear, combined with weekly top divergence, indicating significant short-term downward pressure. However, looking at the 3-6 month cycle, the continuous inflow of Bitcoin ETF funds and the warming of U.S. regulations provide support for the market, with a potential surge towards 150,000 to 200,000 by the end of 2025.

The situation in the Middle East is a key variable; conflicts involving Iran may trigger panic selling, potentially driving Bitcoin down to 100,000, while the support level of 2,300 for Ethereum also faces testing. Key focus for the day is on resistance levels 106,100 and 106,500; if there is an effective breakthrough, it could rise to 108,000; if unable to break through 106,500, consider attempting a short position, as the current volatility is significant, and it is essential to maintain proper stop-loss measures.