Looking back from early morning to morning, Bitcoin rose to around 106,500 before facing pressure and falling back. In the morning, it found support around the low of 103,000 and stabilized. Currently, it is in a narrow range of fluctuations. Ethereum's movement is in sync with it, with prices repeatedly consolidating between the high of around 2,570 and the low of 2,367, showing a clear tug-of-war between bulls and bears.
From a technical analysis perspective, on the four-hour level, the candlestick pattern shows alternating small bearish and bullish consolidations, with prices stabilizing above the lower band of the Bollinger Bands, indicating intense competition between bulls and bears, but overall fluctuations are limited. Considering that weekend trading is usually light, the sideways consolidation may continue. On the one-hour level, the candlesticks are alternating between bullish and bearish, with balanced forces between bulls and bears. The MACD indicator's fast and slow lines are gradually converging below the zero axis, with downward momentum weakening; the KDJ indicator's three lines are hovering around 50, indicating that the market has no clear unilateral direction.
Bitcoin has significant support around 103,000, and Ethereum has significant support around 2,400. Technical indicators show a slowdown in downward movement, with initial stabilization signals appearing, therefore attention can be focused on buying opportunities during retracements.
Long on Bitcoin around 103,000 with a target towards 106,000.
Long on Ethereum around 2,400 with a target towards 2,500.
