A new week has started, today is the first day of the week. Bitcoin has experienced a slight rise last night followed by a pullback and consolidation, showing weak continuity. Currently, it is still operating around the upper level of 118,000. Ethereum slowly rose yesterday afternoon, peaking at 4,574 before facing resistance. Currently, the price of Ether is around 4,520.

The daily chart shows a low-close doji candlestick, with a long upper shadow. In the short term, it is oscillating widely around a high position, with high points facing resistance and retracing space, forming repeated highs and lows. The 4-hour chart shows that the rise is quick, but the retracement is also fast. The rapid exploration of highs has not been able to break the previous high point, currently forming a pressure return and accompanied by a rebound; this week we still need to pay attention to the high-pressure situation. If the high point does not break, it will continue to maintain the high pull. Currently, the market appears weak, but the price comparison lacks the momentum for a significant high push. Short-term returns are repeated, and the amplitude of the back-and-forth market is large. In terms of operation, it is advisable to respond to short points; the hourly chart has already shown weakness and is in a small step oscillation. Considering the support of the lower track this week, it is prudent to avoid shorting and if no suitable entry opportunity is found, it may be best to wait until the afternoon or night of tomorrow morning. If the sustained price continues to break the weak point, it will be viewed as a bearish trend; conversely, if it stabilizes, a rebound will be expected.

Bitcoin: Long at 117,200-117,500 Target 119,000

Ethereum: Long around 4,500 Target 4600#加密市场回调