The evening Bitcoin market has fallen into a range-bound oscillation, fluctuating between 105000 and 103750, with a small range oscillation around 104500, indicating that this level has formed a strong resistance point for the market.

From a technical analysis perspective, on the 4-hour level, the Bollinger Bands show an expanding opening pattern, with the middle band running horizontally, highlighting market divergence and increased volatility. Prices continue to oscillate in the lower band area, repeatedly testing the lower band support, and trading volume is gradually increasing, raising the probability of a downward breakout from the lower band, with a clear advantage for the bears. On the 1-hour level, the Bollinger Bands are significantly converging, and the price fluctuation range is continuously narrowing. Combined with the ATR indicator trending downwards, the market is entering a consolidation phase. According to the 'squeeze theory', this suggests that after the price breaks out of the converging range, a significant trend will soon emerge. Subsequent attention should be paid to the volume conditions at the time of the breakout to confirm the trend direction.

Operational Suggestions

Short Bitcoin near 105500 Target 103500

Short Ethereum near 2560 Target 2400

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