Silk Road at Dawn

Today, the cryptocurrency market is showing a fluctuating pattern. Bitcoin surged to 105800 in the early session but faced resistance; although it briefly refreshed its high to 105900, it failed to stabilize and subsequently fell back, ultimately fluctuating in the 103600-104646 range. Ethereum encountered resistance at 2546 in the morning and retraced, but in the evening, it broke through the morning high to reach 2556, with the overall trend leaning towards consolidation.

From a 4-hour technical perspective, the market's consolidation trend is evident. The Bollinger Bands are narrowing, and prices are repeatedly contending around the middle band. The MACD indicator is stuck near the zero line, suggesting a tug-of-war between bulls and bears. Currently, the price is between the middle band and the lower band; if it cannot quickly reclaim the middle band, it may face further downward pressure.

In terms of trading strategy, Bitcoin can be bought on dips in the 103700-104100 range, targeting 105500; for Ethereum, it is recommended to position long orders in the 2500-2530 range, with a target price of 2620, while paying attention to position size and risk management.