The weekend market may be as uninteresting as ever. Looking back at yesterday, Bitcoin broke through the consolidation range, climbing up to a high of 106486 after breaking the level of 105500. In the evening, influenced by fundamental factors (interest rate disputes, geopolitical conflicts, etc.), the price of the coin dropped again to a low of 102255, followed by a rebound back to the range above 103000. The trend of Ethereum is similar to Bitcoin, falling to a low of 2363 before rebounding, currently oscillating around 2420.
From the daily K-line perspective, it still remains in a range positioning, with no momentum to break through the upper and lower points for the time being. In the short term, it will continue to maintain a wide-range oscillation. After the influence of fundamental factors gradually dissipates, the technical aspect will still undergo adjustments and repairs.
On the four-hour line, after another dip in the coin price, there is a trend of forming a W-bottom structure, but whether it can continue to complete is still uncertain. Additionally, after the smaller timeframe technical indicators recover upwards, the overall market will be relatively slow for the time being, with a combination of upward adjustments in the short term. Short-term intraday layout combined with the lower support level for short positions is advisable.
For the short-term, Bitcoin reference is 103000-103500 for long positions, looking at 104500-105000; Ethereum reference is near 2400-2420 for long positions, looking at 2460-2480. $BTC
