The overall market pattern over the weekend has been narrow fluctuations, with market liquidity weakened. The Bitcoin price fluctuated within the range of 106600-107500, while Ethereum repeatedly tested the range of 2400-2450. The price has tested support and resistance multiple times but has not formed an effective breakthrough. Bitcoin's daily chart shows consecutive doji candlesticks, with short- and medium-term moving averages intertwined, indicating strong market hesitation and a clear state of stalemate between bulls and bears.
From a technical perspective, the Bollinger Bands on the Bitcoin daily chart are narrowing, with a short-term bullish bias, but the middle band at 107250 acts as effective resistance. A breakout with increased volume is needed to confirm the direction. On the 4-hour chart, the MACD shows a death cross with decreasing volume, and KDJ is oversold, indicating weakening downward momentum. There is a bullish defense line in the range of 106500-106700, with strong support effectiveness. The support level is at 106600; if this support is broken, it opens up the downside to the 106,000 range. The resistance level is at 108000; breaking this resistance would open up the 108000-109000 range. Ethereum's volume is rising, but bearish volume is increasing, and bullish momentum is not yet formed, with strong pressure in the 2450-2500 range. The 12-hour chart shows contrarian bullish signals, with candlesticks slowly moving upwards. In the short term, buying on dips is favored, but caution is needed for selling pressure above 2450.
In summary, in the short term, adopt a strategy of high selling and low buying during fluctuations, with a focus on defending the support below (Bitcoin 106300/Ethereum 2400). Do not chase after prices before breaking through key resistance. Wait for the market to choose a direction on Monday and follow the trend.
