Monday Thoughts
The weekend's two-day unchanged range oscillation continues, with a downward trend near the 106200 line. Although there has been some rebound, the strength is limited, indicating that bullish momentum is relatively weak.
In the short term, it may continue to oscillate within the range, constrained by the upper resistance of 106500-106100, while the support around 104000 is quite critical. If it breaks below this level, it may further test previous lows. However, if the upper level of 106200 is broken, one might consider entering a short position if it cannot stabilize near 107500!
After the previous decline, it has entered an adjustment phase. From the K-line analysis, there is an expectation of a rebound, but there is pressure above and support below. The indicators suggest that bears are in control, with a weak direction, possibly continuing oscillation or downward adjustment.
The K-line shows a doji indicating a potential trend reversal, while the black three soldiers indicate a strengthening short-term downtrend. The KDJ three lines are all in the lower region and trending downwards, showing weakness and strong selling pressure; there may be a rebound in the short term, but the strength is limited.
For Bitcoin, rebounds near the 16500-107500 line should be watched for shorts down to 104100, and subsequently to 103500-102600 and 101800!
For Ethereum, rebounds near 2580-2650 should be watched for shorts down to 2500-2450.
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