6.2 BTC/ETH Market View:

Good afternoon, today is Monday and we have to get back to business. After a seven-week bullish trend, Bitcoin's weekly chart closed with a bearish candle last week. Although this doesn't necessarily indicate a trend reversal, it at least suggests that the bull market is cooling off, showing that after prices got too high, everyone is choosing to wait and cautiously enter the market, as everyone is afraid of a price drop from high levels. So, let's be cautious about chasing prices and see whether the bulls are reversing for a pullback or if the bears are gathering strength to create a waterfall!

Last weekend, we had two small bullish candles, and the current price still hasn't managed to close above the middle band of the daily Bollinger Bands. So, this middle band has become the dividing line between bulls and bears. If we can stabilize and close above it, then the pullback will end and we will start building momentum for the next new high. However, if the price continues to test resistance and moves downward, then the 100,000 mark could be in jeopardy. Let's avoid excessive subjective speculation, follow the trend, and go with the flow. We shouldn't be overly bullish or overly bearish; we should just be savvy in the market!

The current Bitcoin price is around 104,900. The short-term resistance above is at 105,500 and 106,500. For a short position, these levels offer relatively good value, with targets looking down at 104,500, 103,500, and 102,500.

For short-term support below, we should pay attention to 102,500 and 101,500. A pullback here could be an opportunity for a small bounce. Currently, the market is leaning towards volatility, so we shouldn't look for a one-sided move. We can participate in short positions at resistance levels while considering long positions at support levels.

For Ethereum, the upper resistance to watch is at 2,550 and 2,600. We can consider entering short positions around these levels. The lower support to watch is at 2,400 and 2,350, where we can look for opportunities to make short-term long trades.