The curtain of the weekend gently closes, and the fluctuations over these two days have indeed been minimal, with an up and down range of merely a thousand points. There isn’t much difficulty in short-term operations; the upper pressure remains around 109000, while the lower support is around 107000. Arranging trades based on the high and low points of the range can also yield decent returns. As the weekend ends, the new week will bring fresh market trends; in the new week’s stage, we await the lights to be lit!
Looking back at the week’s trends, at the beginning of the week, the high point met resistance at 108800, leading to a wave of decline near 105000. After hitting the bottom, a wave of rise directly broke through the early week’s opening drop, and a strong rebound brought back bullish confidence near 110500. However, the market could not sustain the upward momentum, and at the end of the week, after a surge, it once again retraced back to previous levels, closing the weekend within the range of 109000 to 107000. Regarding the market grasp within this week, the deliciousness of the fish head and fish body has already been consumed. As for the fish tail at the end, consider it a dessert after the meal; the taste is still quite good!
Current market observation:
During the weekend, the market exhibited a sideways range fluctuation pattern, which can be seen as a technical adjustment process of time exchanging for space. In the evening, although there was a rally, it quickly faced resistance at the pressure point, and the directional choice between bulls and bears still requires subsequent trend validation.
1. Confirmation of high resistance: Since the price tested and faced pressure at the key resistance level of 110700 at the end of the week, upward momentum has shown significant signs of weakening.
2. Short-term pressure moving down: Currently, the short-term rebound is once again facing resistance in the 109000 area.
If at the beginning of next week, the price cannot effectively break through and stabilize above the 109000 resistance level, the risk of the market regaining downward momentum will significantly increase. The critical pressure and support serve as the watershed for market turning points; unless the market strongly rallies and breaks through to change the current trend structure, maintaining a bearish outlook remains unchanged.
Bitcoin entry position reference: Short in the range of 109000-109500, target focusing on 105000; Ethereum still does not have an independent market trend and continues to follow the rhythm of Bitcoin!
