The fluctuations in the cryptocurrency market are the norm, rather than the exception. Just like the rise and fall of ocean waves, the price fluctuations in the market reflect the laws of the market. Do not panic due to a temporary drop, nor be complacent because of a brief rise. Maintaining a calm mindset and rationally viewing each movement of the market is fundamental to standing firm in the cryptocurrency space. At midnight on Thursday, Bitcoin showed a narrow range of fluctuations, first dipping to a low point of 103870 before rebounding, and then reaching a high point of 104795, subsequently oscillating around this range. The Ethereum market, on the other hand, first dipped to a low of 2485 before beginning a fluctuating rise, with the price climbing to a high of 2532 in the early morning.

From the current market perspective, the four-hour level shows a small rebound with two consecutive bullish candles, but the overall price has not moved out of a larger range. There are also long upper shadows above the bullish candle bodies, indicating that selling pressure still exists in the short term. The middle line of the Bollinger Bands also maintains a downward trend, suggesting that the overall trend has not changed significantly and remains bearish. From the one-hour level, after three consecutive bullish candles, the market halted at the middle line of the Bollinger Bands, and the price subsequently retreated. The RSI indicator has shown a downward turn in its three lines, and the MACD indicator has not returned above the zero line, so our trading strategy in the morning remains to look for short positions after a rebound.

A short position can be considered near 105300 for Bitcoin, targeting 103000.

A short position can be considered near 2550 for Ethereum, targeting 2450.