Good morning everyone, it's Saturday again! The cryptocurrency market continues to fluctuate. In the early hours, Bitcoin and Ethereum experienced slight fluctuations within a range, with calm news and stable market sentiment, maintaining a narrow range of oscillation.
From a technical perspective, the market is still operating within a descending channel. On the 4-hour level, the MACD has a death cross below the zero axis. Although Bitcoin has shown a weak rebound with three consecutive bullish candles, it faced resistance at the Bollinger middle band and did not break the key resistance, with bears still dominating the market.
In terms of operations, maintain a bearish position. Do not rush to bottom fish before an effective breakout. If there is a subsequent breakthrough of the key resistance, then follow the trend to chase longs.
Bitcoin (BTC): You can consider shorting around 107,600, targeting 106,000.
Ethereum (ETH): You can try to short around 2,450, targeting 2,380.
