Saturday Afternoon Bitcoin and Ethereum Analysis

As we reach the weekend, the market remains consistently slow. Throughout the day, Bitcoin has been fluctuating within a narrow range near the 107,000 mark, as the market enters a period of indecision, awaiting the start of the workweek to begin moving. Notably, after two consecutive days of decline, the downward trend has not continued, but instead, it has rebounded to the middle area after hitting a bottom and is now oscillating.

Returning to the real market, the daily level has successfully closed with a doji bullish candle, indicating that the market has effectively defended against the bearish assault at a key support level. Currently, after multiple attempts to test the 106,500 support level, signs of bottom stabilization are beginning to appear. From a four-hour perspective, Bitcoin's price continues to oscillate at a high level, and the Bollinger Bands are showing a convergence trend, indicating a range contraction pattern, which suggests that the short-term market direction remains unclear. The price is currently stabilizing above the middle band of the Bollinger Bands, and we need to closely monitor the breakout of the 108,000 resistance level as well as the situation of the support levels below.

Operational suggestions:

Bitcoin is oscillating in the range of 106,800-107,500.

Ethereum is oscillating in the range of 2,400-2,460.

One can take advantage of the oscillation range by shorting at the high points or going long on pullbacks.