The time has come to the afternoon, and after the fluctuations and adjustments in the morning, the market has once again fallen into a brief period of sideways adjustment. The current price of Bitcoin is around 109,000, while Ethereum is fluctuating around 2,570.
After maintaining a long period of wide fluctuations on the daily chart, the last two days have closed with two consecutive bullish candles instead of forming solid bearish candles. At the same time, the trend has improved, changing from the previous three parallel tracks and narrowing structure, with the upper and middle tracks turning upward. The upward trend is strong, but it has not yet broken through the previous high, with significant resistance above.
On the four-hour chart, the market has once again entered a phase of range contraction, which is also the prelude to the market shift that Lao Chen has been emphasizing. The key is still the break of the range after the breakout, as the breakthrough of critical points will lead to a sustained strengthening of the market trend. In the short term, the range fluctuation adjustment continues, but the further tightening of the range and the dulling of technical indicators reduce directional guidance.
Key Levels:
Above Bitcoin: 110,500-112,000-115,000
Below: 108,100-107,000-105,000
Above Ethereum: 2,630-2,680-2,800
Below: 2,530-2,450-2,380
The short-term layout continues to favor high-risk positions, with Bitcoin expected to look at 108,000, and Ethereum aiming for 2,530. $ETH