Morning market,
The expectations of the Middle East war have intensified, and the market is relatively cautious. The expectations for a Federal Reserve interest rate cut have weakened, but the market has not yet reacted. Bitcoin ETF has shifted from outflow to inflow compared to yesterday, but the inflow is relatively weaker compared to the overall this week.
On the chart, it is in a consolidation phase, currently at a key position. Whether it continues to consolidate or breaks out suddenly should be seen in the next two days.
Last midnight, there was intense competition between bulls and bears in the market. Currently, it is temporarily bullish, but the upward momentum is also relatively weak. We can look at 105000 and 106100 as relative resistance levels.
On the downside, 103500~202500.
The market will eventually break out. However, external factors are currently having a significant impact.
At the current position, it is actually more suitable to wait and observe.
