Bitcoin and Ethereum fluctuate and decline, bears dominate

This morning, the market showed a fluctuating downward trend. Bitcoin has been falling continuously since early morning, once touching a low of 104399. After a brief rebound, it is still hovering around the 105000 level; Ethereum surged to 2559 before quickly retreating, currently approaching the critical support level of 2490, with intense long and short battles and an unclear short-term direction.

From a technical perspective, Bitcoin’s four-hour K-line fell below the middle band of the Bollinger Bands and rebounded weakly. The Bollinger Bands are widening, indicating increased volatility, and a bearish pattern is emerging, with significant downside risk. On the hourly level, the price has been repeatedly blocked by the middle band, with moving averages arranged bearishly and diverging downward. The range of 105500 - 105800 forms a strong resistance zone; if pressured, 104200 may become a target for bears.

Ethereum frequently shows long upper shadows on the daily chart, indicating significant selling pressure above. The range of 2550 - 2580 acts as a resistance zone formed by previous highs and the upper band of the Bollinger Bands. If it fails to break through, it is likely to continue the downward trend, and the support level of 2480 will be tested. Currently, bears dominate the market.

Operation:

Bitcoin is fluctuating around 1057-1062, with a target looking down at 1042-1047.

Ethereum is fluctuating around 257-260, with a target looking down at 248-251.