The market is currently at a stalemate, caught between a rock and a hard place. It was in a sideways movement all day yesterday, and this morning continued to oscillate in a narrow range. These two days are most suitable for short-term trading; capturing small fluctuations of 300-500 points can yield profits. Currently, the market is still in a tug-of-war, with neither a breakthrough of resistance nor a drop below support, and there are no signs of a trend reversal in sight. It is estimated that after a rebound, it will continue to oscillate.
From a technical perspective, the overall market is still oscillating within a large range. The short-term bullish momentum is not strong enough to be sustained; a dark cloud cover pattern has appeared on the daily chart, but recently the market has been rebounding after pullbacks, falling to support and then rebounding again. Sharp fluctuations are often signals for a change in trend, and the current gentle oscillation may actually be the bulls gathering strength, suggesting that there could still be upward space ahead.
Operational suggestion: Bitcoin can be bought on dips between 103800-104300, with a target of 105500.
