The market dynamics have resurfaced in the early morning hours. Bitcoin took the lead, with its price fluctuating upward, reaching a peak of $110,499. However, there was significant pressure from above, and after hitting the high, it quickly fell back. Subsequently, the bearish forces took control, continuously suppressing the price, which dipped to a low of around $108,600. As of now, Bitcoin's price hovers around $109,000, with both bulls and bears engaged in intense competition. Ethereum also did not hold back, starting a unilateral upward trend since yesterday, with the momentum continuing into the early morning, reaching a high of $2,712. However, after a brief touch of the high, Ethereum also failed to maintain its upward momentum and subsequently fell back, with market sentiment increasingly cautious.

From a daily chart perspective, Bitcoin initially showed a strong pattern of four consecutive bullish candles, but has now transformed into a combination of three bullish and one bearish candle. It is worth noting that the upper and lower shadows of the current bearish candle are of similar length, and its body completely engulfs yesterday's bullish candle, forming a clear signal of a bearish counterattack. However, despite the pullback, the price remains firmly above the moving average system, indicating that the medium to long-term trend has not yet reversed. On the hourly chart, the price trend displays a unilateral downward movement, finding effective support near the lower band of the Bollinger Bands, temporarily halting the decline. Currently, the price has reached the lower end of the recent fluctuation range, suggesting a technical need for a rebound. During the early trading session, it may be appropriate to attempt light-position short-term long operations.

Bitcoin can be bought in the range of 108,500-108,800, looking towards 111,000. Ethereum can be bought in the range of 2,610-2,640, looking towards 2,720. #btc70k