Bitcoin has continued its downward trend since early morning, with the intraday low reaching the 104,399 level. Although there was a technical rebound afterwards, the price has consistently fluctuated around the 105,000 whole number. Meanwhile, Ethereum's movement has also been quite volatile, rising to 2,559 in the morning before quickly falling back. It is currently trading around 2,520, and there is intense competition between the bullish and bearish forces, with significant uncertainty in short-term price movements.

The four-hour cycle chart shows typical characteristics of consolidation at low levels. The Bollinger Bands are continuously narrowing, with the distance between the upper and lower bands gradually decreasing, indicating that the market's bullish and bearish forces are becoming stuck and are brewing a new round of directional choice. The candlestick patterns frequently exhibit shadow fluctuations but have not been able to effectively break through the pressure of the Bollinger middle band. Currently, the moving average system presents a bearish arrangement, with the 5-period, 10-period, and 20-period moving averages all pressing down sequentially. It is worth noting that if the Bitcoin price cannot effectively break above the key resistance level of 106,300, the short-term market pattern dominated by bears may continue.

Morning analysis suggestion:

Bitcoin: Range of 105,800-106,300, target 104,500

Ethereum: Range of 2,560-2,580, target 2,480

The market situation changes rapidly, and the above suggestions are for reference only; actual operations should be based on the specific situation!