This Week's Bitcoin and Ethereum Market Analysis Summary
Looking back at this week's market, the bulls and bears have been engaged in a fierce battle, with bears dominating the overall market. After a significant pullback, the bulls have been steadily recovering.
From the daily perspective, Bitcoin rebounded after hitting the critical support at 100,000, demonstrating strong resistance at this level. The bearish strength is still insufficient to break through this barrier. From the four-hour perspective, both bulls and bears have their own characteristics and styles. Initially, the bulls held the dominant position, but after a significant pullback, the bears reclaimed the dominance. Currently, the situation is in a phase where bulls are recovering lost ground. The Ethereum market clearly shows that the bullish trend is suppressed by the bearish trend, with bulls continuously challenging the bears. Currently, both sides are in a stage of energy accumulation.
From the four-hour perspective, Bitcoin's Bollinger Bands are gradually opening, indicating that a major fluctuation is imminent. The middle band is showing an upward trend, while the lower band is parallel, forming a strong support point. The bullish trend is becoming clearer; in contrast, Ethereum's three bands are forming a converging trend.
In the evening layout, we will continue to adopt a high-sell low-buy strategy, focusing on the market fluctuations in the early hours of Monday.
Bitcoin around 105,000 bullish Target 106,500
Ethereum around 2,490 bullish Target 2,600
