Reviewing the market performance from early Sunday morning, Bitcoin and Ethereum showed a consolidation pattern over the weekend. Bitcoin oscillated within the range of 84193 to 85238, while Ethereum engaged in a tug-of-war between bulls and bears in the range of 2732 to 2798. The overall market exhibited typical characteristics of low liquidity weekend consolidation, without forming a clear directional breakout.
From the current market structure analysis, the technical pattern continues to evolve at its original pace, with yesterday's short-term rebound having essentially completed the technical repair of the oversold structure and oscillation indicators. The overall structure remains constrained by the descending trend line, with rebound momentum showing a diminishing trend, coupled with a continuous contraction in trading volume and converging volatility, reflecting insufficient market consensus for bullish sentiment. It is expected that the future market will continue with a box oscillation structure, exchanging time for space, while the oscillation center will exhibit a stepwise downward movement. In terms of operations, Yang Jie suggests adopting a strategy of shorting on rebounds to key resistance levels after reaching highs.
Bitcoin: Short in the range of 85000-85500, target 83000
Ethereum: Short in the range of 2780-2810, target 2650
