The Thursday daytime market was quite stagnant, oscillating within a range all day. Looking back at the afternoon trend, the price still did not break through the oscillation pattern, unable to rise or fall significantly. The daytime high reached 105185 but was pushed down, while the afternoon low did not break below 104000. Ethereum was a bit stronger in the afternoon, slightly rising to 2544. We have been suggesting to go long all day, and the long positions are still profitable. $BTC
From the four-hour chart, the market is currently in broad oscillation, with prices swinging back and forth between the upper resistance and lower support, without establishing a one-sided trend. Neither side has gained a sustained advantage, with the candlesticks frequently showing long upper and lower shadows, indicating a tug-of-war between bulls and bears. Recent observations reveal that rebounds often face resistance, with prices testing the upper resistance multiple times before retreating, forming a high pullback pattern, suggesting significant selling pressure at high levels;
However, the pullbacks have not broken previous lows, with each time testing the lower support resulting in rebounds, indicating strong buying support at lower levels. The daytime market has been quiet, and it is expected that movement will occur tonight. The key level to watch this evening is 104000; if it breaks down, we will short, and if it does not break, we will go long at lower levels.
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