Midday Market Analysis: Sideways Fluctuations Continue, Focus on Key Breakout Levels

Overall Market Situation:

In the past two days, the cryptocurrency market has continued to fluctuate, with Bitcoin (BTC) and Ethereum (ETH) trading sideways for several days. The current market environment is complex, with multiple pressures including disputes, unclear interest rate cut expectations, and a lack of wealth creation effect, resulting in low willingness for new capital to enter the market. Capital tends to prefer 'adding icing on the cake' rather than risking speculative trades during fluctuations, leading to a potential continuation of the sideways pattern.

Today's Key Market Level Analysis

- Bitcoin (BTC):

- Key Support Level: $104,410. If this level holds, it may aim for the top of the sideways range at $105,475, and upon breaking through, the targets are $106,740 - $107,745 - $108,900.

- Key Resistance Level: If unable to break through the top, it may retrace to $104,410. If it falls below, it may test the bottom of the sideways range at $103,445, with further support levels at $102,620 - $101,470 - $100,310.

- Ethereum (ETH):

- Key Support Level: $2,515. If this level holds, it may aim for the top of the sideways range at $2,547, and upon breaking through, the target levels are $2,582 - $2,617 - $2,656.

- Key Resistance Level: If the top faces pressure, it may retrace to $2,515. If it falls below, it may test $2,491 - $2,465 - $2,433.