This week's market trend has been turbulent, resembling a thrilling tug-of-war. At the beginning of the week, it continued the bullish momentum from last weekend, with prices consistently climbing, briefly touching a high of 110,653. However, it encountered strong resistance here, and both bulls and bears engaged in fierce battles, leading the market to consolidate at high levels. Even with the favorable CPI data released this week, prices failed to break through the 110,000 mark. Due to unexpected news, prices dropped sharply to 102,614 during the day, but subsequently began to gradually recover. By the weekend, prices fluctuated narrowly around 105,000.

From a technical analysis perspective, the daily chart formed a doji candlestick pattern. After failing to break through the resistance at 110,000, the price fell back, leaving a long upper shadow, and the current doji candlestick pattern shows significant high-pressure, indicating the possibility of further price pullback. Considering that the interest rate cut policy is expected to come into effect until July, the market is likely to continue to wash out the bullish leverage next week. As long as the key resistance level is not broken, Bitcoin prices are expected to pull back to the 100,000 round number next week, with a focus on the impact of next week's interest rate decision. The daily trend shows that the previous five consecutive bullish days were engulfed by a large bearish candlestick, indicating that bears are in control. The Bollinger Bands are flattening, and the price rebound quickly fell back after reaching the middle band, suggesting that bullish momentum is difficult to sustain without effectively breaking through the middle band. Due to slow market movements over the weekend, price fluctuations were limited, but new volatility is expected next week; from the 4-hour chart, the candlesticks show a weakening oscillation after a peak and drop, with continuous high positions forming candlesticks with long upper shadows, reflecting heavy selling pressure above and diminishing bullish momentum. During the pullback, the price broke through key support and entered a phase of range-bound consolidation, with candlesticks crossing repeatedly within a relatively narrow space, indicating a temporary balance of bullish and bearish forces. Overall, the previous uptrend has been damaged, and the market is in a short-term oscillation correction. If it cannot break through the upper resistance, there is a possibility of continued downward testing of previous lows or probing new support after oscillation; if it can effectively break through the resistance range, it may regain bullish momentum.

It is recommended to set short positions for Bitcoin in the range of 106,000-106,500, targeting around 103,000; for Ethereum, it is suggested to short in the range of 2,570-2,590, targeting around 2,420. $BTC